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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kankakee Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Kankakee Township, IL

How much do homes in Kankakee Township, IL cost?

Median Sold Price

$155,000

$113/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,671(+9.7%)

Key Takeaway

Homes in Kankakee Township have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Kankakee Township was $155,000 in November 2024, up 9.7% from last year, and the median price per square foot was $113.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $46.5K$105.5K
+126.9%
2 $100K$118K
+18.0%
3 $154K$169.9K
+10.3%
4 $179.8K$202.5K
+12.6%
5+ $200K$160K
-20.0%

Summary: Kankakee Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 126.9%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 20%.

Median Sold Price Compared To Nearby Cities

Kankakee
+10.3%
Kankakee Township
+9.7%
Bradley
+9.7%
Aroma Township
+9.2%

Housing Supply in Kankakee Township, IL

How many homes are available in Kankakee Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
141157+11.3%

Summary: The Kankakee Township real estate market had 157 homes for sale in November 2024, a 11.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 3433
-2.9%
3 6474
+15.6%
4 3236
+12.5%
5+ 710
+42.9%

Summary: The Kankakee Township 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 decreased by 2.9%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2631+19.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kankakee Township, you may be able to get a good deal. 41.9% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Kankakee Township in November 2024, up by 19.2% month-over-month. Of the 31 sold homes, 42% were sold under asking, 23% were sold at asking, and 35% were sold over asking.

Days on Market for Kankakee Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days30 Days+2.0%

Summary: Homes in Kankakee Township had an average of 30 days on market in Nov 2024, up by 2% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 31 homes were sold in Kankakee Township; 55% of homes were sold within 30 days, 45% 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 2 Days Ago

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