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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Channahon is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Channahon, IL

How much do homes in Channahon, IL cost?

Median Sold Price

$365,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+1.4%)

Key Takeaway

Homes in Channahon have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Channahon was $365,000 in October 2024, up 1.4% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $285K$284.5K
-0.2%
3 $350K$355K
+1.4%
4 $390K$392.4K
+0.6%
5+ $387.5K$365K
-5.8%

Summary: Channahon housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 5.8%.

Median Sold Price Compared To Nearby Cities

Aux Sable Township
+6.1%
Minooka
+3.9%
Channahon
+1.4%
Channahon
+1.4%
Channahon Township
+1.4%

Housing Supply in Channahon, IL

How many homes are available in Channahon, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7286+19.4%

Summary: The Channahon real estate market had 86 homes for sale in October 2024, a 19.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 98
-11.1%
3 3948
+23.1%
4 1928
+47.4%
5+ 52
-60.0%

Summary: The Channahon housing inventory by bedroom type for October 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 increased by 23.1%, 4 bedroom homes increased by 47.4%, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1719+11.8%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Channahon, expect to pay close to the asking price. 36.8% of homes here sold near the asking price last month.

Summary: A total of 19 homes were sold or pending in Channahon in October 2024, up by 11.8% month-over-month. Of the 19 sold homes, 32% were sold under asking, 37% were sold at asking, and 32% were sold over asking.

Days on Market for Channahon, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
40 Days16 Days-60.2%

Summary: Homes in Channahon had an average of 16 days on market in Oct 2024, down by 60.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 19 homes were sold in Channahon; 84% of homes were sold within 30 days, 16% 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 16 Days Ago

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