Is Manhattan, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Manhattan is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Manhattan was a Seller's Market.

Key Takeaway

Manhattan is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Manhattan, IL

How much do homes in Manhattan, IL cost?

Median Sold Price

$365,000

$171/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since October 2023.

Key Takeaway

The sold price of homes in Manhattan has remained the same since last year.

Summary: The median home sold price in Manhattan was $365,000 in October 2024, the same as last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $125K-
N/A
2 $235K$272K
+15.7%
3 $280K$299.9K
+7.1%
4 $430.4K$434.6K
+1.0%
5+ $542K$550K
+1.5%

Summary: Manhattan 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 15.7%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 1.5%.

Median Sold Price Compared To Nearby Cities

Manhattan
0.0%
Manhattan Township
-1.5%

Housing Supply in Manhattan, IL

How many homes are available in Manhattan, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5979+33.9%

Summary: The Manhattan real estate market had 79 homes for sale in October 2024, a 33.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1110
-9.1%
3 2430
+25.0%
4 2036
+80.0%
5+ 43
-25.0%

Summary: The Manhattan 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 decreased by 9.1%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 80%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13130.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manhattan, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Manhattan in October 2024, the same as the previous month. Of the 13 sold homes, 38% were sold under asking, 38% were sold at asking, and 23% were sold over asking.

Days on Market for Manhattan, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days34 Days+63.2%

Summary: Homes in Manhattan had an average of 34 days on market in Oct 2024, up by 63.2% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 13 homes were sold in Manhattan; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% 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 16 Days Ago

Newest Listings in Manhattan, IL

Nearby Markets to Manhattan, IL

What housing markets are near Manhattan, IL?