Is Farmer City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Farmer City is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Farmer City was a Buyer's Market.

Key Takeaway

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

Housing Prices in Farmer City, IL

How much do homes in Farmer City, IL cost?

Median Sold Price

$179,200

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$37,200(+26.2%)

Key Takeaway

Homes in Farmer City have sold for 26.2% more than they did a year ago.

Summary: The median home sold price in Farmer City was $179,200 in November 2024, up 26.2% from last year, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $135K$116K
-14.1%
3 $148K$167.2K
+13.0%
4 $146.4K$240K
+63.9%
5+ -$120K
N/A

Summary: Farmer City 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 decreased by 14.1%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 63.9%, and 5+ bedroom homes did not change.

Housing Supply in Farmer City, IL

How many homes are available in Farmer City, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1110-9.1%

Summary: The Farmer City real estate market had 10 homes for sale in November 2024, a 9.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 87
-12.5%
4 22
0.0%
5+ 00
0.0%

Summary: The Farmer City 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Farmer City, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Farmer City in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Farmer City, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days48 Days+67.8%

Summary: Homes in Farmer City had an average of 48 days on market in Nov 2024, up by 67.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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

Avg time on Rocket Homes in Farmer City has remained consistent over time.

Summary: During November 2024, 3 homes were sold in Farmer City; 33% of homes were sold within 30 days, 67% 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 Farmer City, IL

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