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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homer Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Homer Township, IL

How much do homes in Homer Township, IL cost?

Median Sold Price

$425,000

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$33,000(+8.4%)

Key Takeaway

Homes in Homer Township have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in Homer Township was $425,000 in October 2024, up 8.4% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$648.7K
N/A
2 $269.5K$287.5K
+6.7%
3 $349.7K$385K
+10.1%
4 $490K$510K
+4.1%
5+ $572.4K$658K
+14.9%

Summary: Homer 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 6.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 14.9%.

Median Sold Price Compared To Nearby Cities

Lemont
+14.3%
Lemont Township
+12.4%
Homer Township
+8.4%
Homer Glen
+7.7%
Lockport
+6.6%

Housing Supply in Homer Township, IL

How many homes are available in Homer Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
148177+19.6%

Summary: The Homer Township real estate market had 177 homes for sale in October 2024, a 19.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2222
0.0%
3 4654
+17.4%
4 5769
+21.1%
5+ 2231
+40.9%

Summary: The Homer 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 remained the same, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 40.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3441+20.6%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer Township, you may be able to get a good deal. 61% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in Homer Township in October 2024, up by 20.6% month-over-month. Of the 41 sold homes, 61% were sold under asking, 12% were sold at asking, and 27% 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

Oct 2023Oct 2024CHANGE
19 Days26 Days+31.4%

Summary: Homes in Homer Township had an average of 26 days on market in Oct 2024, up by 31.4% compared to last year.

Breakdown of Home Sale Times

33 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 41 homes were sold in Homer Township; 80% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 2% 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 20 Days Ago

Newest Listings in Homer Township, IL

Nearby Markets to Homer Township, IL

What housing markets are near Homer Township, IL?