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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Erie Township is a neutral's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Erie Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Erie Township, IL

How much do homes in Erie Township, IL cost?

Median Sold Price

$155,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,500(+15.2%)

Key Takeaway

Homes in Erie Township have sold for 15.2% more than they did a year ago.

Summary: The median home sold price in Erie Township was $155,000 in October 2024, up 15.2% from last year, and the median price per square foot was $98.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$84.5K
N/A
2 $75K$184.5K
+146.0%
3 $139.5K$149.2K
+7.0%
4 $142.4K$198.7K
+39.6%
5+ -$160K
N/A

Summary: Erie 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 146%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 39.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Erie Township
+15.2%
Erie
+15.2%

Housing Supply in Erie Township, IL

How many homes are available in Erie Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1412-14.3%

Summary: The Erie Township real estate market had 12 homes for sale in October 2024, a 14.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 22
0.0%
3 33
0.0%
4 67
+16.7%
5+ 20
-100.0%

Summary: The Erie Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Erie Township, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Erie Township in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Erie Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days28 Days+150.0%

Summary: Homes in Erie Township had an average of 28 days on market in Oct 2024, up by 150% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 2 homes were sold in Erie 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 Erie Township, IL

Nearby Markets to Erie Township, IL