Is Homer Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Homer Township has remained a Seller's Market.
Housing Prices in Homer Township, IL
How much do homes in Homer Township, IL cost?
Median Sold Price
$420,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Homer Township was $420,000 in May 2024, up 9.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $635K | N/A |
2 Bedrooms | $262.5K | $271K | +3.2% |
3 Bedrooms | $342K | $355K | +3.8% |
4 Bedrooms | $447.9K | $517K | +15.4% |
5+ Bedrooms | $574.9K | $612.5K | +6.5% |
Summary: Homer Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
Lemont | $449.5K | $496.4K | +10.5% |
Homer Glen | $429.9K | $470K | +9.3% |
Homer Township | $385K | $420K | +9.1% |
Lockport | $285K | $310K | +8.8% |
Lemont Township | $475K | $497.5K | +4.7% |
Housing Supply in Homer Township, IL
How many homes are available in Homer Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
123 | 156 | +26.8% |
Summary: The Homer Township real estate market had 156 homes for sale in May 2024, a 26.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 15 | 21 | +40.0% |
3 Bedrooms | 45 | 51 | +13.3% |
4 Bedrooms | 37 | 55 | +48.6% |
5+ Bedrooms | 25 | 28 | +12.0% |
Summary: The Homer Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 48.6%, and 5+ bedroom homes increased by 12%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 36 | +16.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Homer Township in May 2024, up by 16.1% month-over-month. Of the 36 sold homes, 31% were sold under asking, 22% were sold at asking, and 47% were sold over asking.
Days on Market for Homer Township, IL
How long does it take to sell a home in Homer Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 12 Days | -44.9% |
Summary: Homes in Homer Township had an average of 12 days on market in May 2024, down by 44.9% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in Homer Township; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.