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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hopewell Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Hopewell Township, IL

How much do homes in Hopewell Township, IL cost?

Median Sold Price

$260,000

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$18,500(+7.7%)

Key Takeaway

Homes in Hopewell Township have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Hopewell Township was $260,000 in October 2024, up 7.7% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $132.4K$130K
-1.8%
3 $261.5K$266K
+1.7%
4 $385K$300K
-22.1%
5+ $865K-
N/A

Summary: Hopewell 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 decreased by 1.8%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 22.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Henry Township
+26.6%
Hopewell Township
+7.7%
Magnolia Township
+6.7%

Housing Supply in Hopewell Township, IL

How many homes are available in Hopewell Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
64-33.3%

Summary: The Hopewell Township real estate market had 4 homes for sale in October 2024, a 33.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 21
-50.0%
4 32
-33.3%
5+ 00
0.0%

Summary: The Hopewell 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 decreased by 50%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
23+50.0%

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 Hopewell Township, 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 Hopewell Township in October 2024, up by 50.0% 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 Hopewell Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days49 Days+157.9%

Summary: Homes in Hopewell Township had an average of 49 days on market in Oct 2024, up by 157.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 3 homes were sold in Hopewell Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 Hopewell Township, IL

Nearby Markets to Hopewell Township, IL