Is Bourbonnais, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bourbonnais is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Bourbonnais has remained a Seller's Market.

Key Takeaway

Bourbonnais is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bourbonnais, IL

How much do homes in Bourbonnais, IL cost?

Median Sold Price

$294,950

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$26,050(+9.7%)

Key Takeaway

Homes in Bourbonnais have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Bourbonnais was $294,950 in November 2024, up 9.7% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $199K$212.5K
+6.8%
3 $250K$280K
+12.0%
4 $295.8K$325K
+9.9%
5+ $337.5K$351K
+4.0%

Summary: Bourbonnais housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 4%.

Median Sold Price Compared To Nearby Cities

Bourbonnais
+9.7%
Bradley
+9.7%
Manteno
+8.9%
Manteno Township
+8.5%
Bourbonnais Township
+7.5%

Housing Supply in Bourbonnais, IL

How many homes are available in Bourbonnais, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7877-1.3%

Summary: The Bourbonnais real estate market had 77 homes for sale in November 2024, a 1.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 98
-11.1%
3 4845
-6.3%
4 1822
+22.2%
5+ 21
-50.0%

Summary: The Bourbonnais housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1918-5.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bourbonnais, you could pay more than the asking price. 38.9% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Bourbonnais in November 2024, down by 5.3% month-over-month. Of the 18 sold homes, 28% were sold under asking, 33% were sold at asking, and 39% were sold over asking.

Days on Market for Bourbonnais, IL

How long does it take to sell a home in Bourbonnais, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
40 Days23 Days-41.5%

Summary: Homes in Bourbonnais had an average of 23 days on market in Nov 2024, down by 41.5% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bourbonnais are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 18 homes were sold in Bourbonnais; 72% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Bourbonnais, IL

Nearby Markets to Bourbonnais, IL

What housing markets are near Bourbonnais, IL?