Is Empire Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Empire Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Empire Township, IL

How much do homes in Empire Township, IL cost?

Median Sold Price

$192,500

$109/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+14.9%)

Key Takeaway

Homes in Empire Township have sold for 14.9% more than they did a year ago.

Summary: The median home sold price in Empire Township was $192,500 in October 2024, up 14.9% from last year, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $48K-
N/A
2 $125K$141.1K
+12.9%
3 $169.7K$190K
+11.9%
4 $202K$206K
+2.0%
5+ $203K$227.5K
+12.1%

Summary: Empire Township 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 increased by 12.9%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 12.1%.

Median Sold Price Compared To Nearby Cities

Le Roy
+17.5%
Empire Township
+14.9%

Housing Supply in Empire Township, IL

How many homes are available in Empire Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1918-5.3%

Summary: The Empire Township real estate market had 18 homes for sale in October 2024, a 5.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 1411
-21.4%
4 12
+100.0%
5+ 11
0.0%

Summary: The Empire Township 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 increased by 33.3%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Empire Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Empire Township in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Empire Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
7 Days22 Days+221.4%

Summary: Homes in Empire Township had an average of 22 days on market in Oct 2024, up by 221.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 4 homes were sold in Empire Township; 50% of homes were sold within 30 days, 50% 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

Newest Listings in Empire Township, IL

Nearby Markets to Empire Township, IL