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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Magnolia Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Magnolia Township, IL

How much do homes in Magnolia Township, IL cost?

Median Sold Price

$196,500

$106/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$73,500(+59.8%)

Key Takeaway

Homes in Magnolia Township have sold for 59.8% more than they did a year ago.

Summary: The median home sold price in Magnolia Township was $196,500 in November 2024, up 59.8% from last year, and the median price per square foot was $106.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$193K
N/A
2 $79.5K$75K
-5.7%
3 $132.5K$129.9K
-2.0%
4 -$262K
N/A
5+ $161K-
N/A

Summary: Magnolia Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.7%, 3 bedroom homes decreased by 2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Magnolia
+105.0%
Magnolia Township
+59.8%
Henry
+12.7%

Housing Supply in Magnolia Township, IL

How many homes are available in Magnolia Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
54-20.0%

Summary: The Magnolia Township real estate market had 4 homes for sale in November 2024, a 20.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 00
0.0%
3 11
0.0%
4 33
0.0%
5+ 00
0.0%

Summary: The Magnolia Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

2 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 Magnolia Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Magnolia Township in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Magnolia Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
43 Days105 Days+145.3%

Summary: Homes in Magnolia Township had an average of 105 days on market in Nov 2024, up by 145.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Magnolia Township has remained consistent over time.

Summary: During November 2024, 2 homes were sold in Magnolia Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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 21 Days Ago

Newest Listings in Magnolia Township, IL

Nearby Markets to Magnolia Township, IL