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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homer is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Homer, IL

How much do homes in Homer, IL cost?

Median Sold Price

$175,000

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$47,500(+37.3%)

Key Takeaway

Homes in Homer have sold for 37.3% more than they did a year ago.

Summary: The median home sold price in Homer was $175,000 in October 2024, up 37.3% from last year, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $130K$77.2K
-40.6%
3 $125K$175K
+40.0%
4 $118K$195K
+65.3%
5+ $93.5K$325K
+247.6%

Summary: Homer 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 40.6%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 65.3%, and 5+ bedroom homes increased by 247.6%.

Median Sold Price Compared To Nearby Cities

South Homer Township
+41.6%
Homer
+37.3%

Housing Supply in Homer, IL

How many homes are available in Homer, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1211-8.3%

Summary: The Homer real estate market had 11 homes for sale in October 2024, a 8.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 33
0.0%
3 65
-16.7%
4 33
0.0%
5+ 00
0.0%

Summary: The Homer 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer, 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 Homer in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Homer, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
54 Days18 Days-65.4%

Summary: Homes in Homer had an average of 18 days on market in Oct 2024, down by 65.4% 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 Homer are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Homer; 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 16 Days Ago

Newest Listings in Homer, IL

Nearby Markets to Homer, IL