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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colona is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Colona was a Seller's Market.

Key Takeaway

Colona is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Colona, IL

How much do homes in Colona, IL cost?

Median Sold Price

$175,500

$116/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$2,500(+1.4%)

Key Takeaway

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

Summary: The median home sold price in Colona was $175,500 in November 2024, up 1.4% from last year, and the median price per square foot was $116.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $70K$45K
-35.7%
2 $90K$101.2K
+12.5%
3 $185.9K$165K
-11.3%
4 $211.2K$230K
+8.9%
5+ $233.2K$345.8K
+48.3%

Summary: Colona housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.7%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 48.3%.

Median Sold Price Compared To Nearby Cities

Colona Township
+11.4%
Colona
+1.4%

Housing Supply in Colona, IL

How many homes are available in Colona, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1723+35.3%

Summary: The Colona real estate market had 23 homes for sale in November 2024, a 35.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 1116
+45.5%
4 24
+100.0%
5+ 00
0.0%

Summary: The Colona 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 25%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colona, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Colona in November 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Colona, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
12 Days5 Days-56.5%

Summary: Homes in Colona had an average of 5 days on market in Nov 2024, down by 56.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 3 homes were sold in Colona; 100% of homes were sold within 30 days, 0% 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 Colona, IL

Nearby Markets to Colona, IL

What housing markets are near Colona, IL?