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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marengo Township is a neutral's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Marengo Township 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 Marengo Township, IL

How much do homes in Marengo Township, IL cost?

Median Sold Price

$359,990

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$84,990(+30.9%)

Key Takeaway

Homes in Marengo Township have sold for 30.9% more than they did a year ago.

Summary: The median home sold price in Marengo Township was $359,990 in October 2024, up 30.9% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $217.5K$431.5K
+98.4%
2 $197.4K$270K
+36.7%
3 $275K$335K
+21.8%
4 $332.5K$399.9K
+20.3%
5+ $422K$367K
-13.0%

Summary: Marengo Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 98.4%, 2 bedroom homes increased by 36.7%, 3 bedroom homes increased by 21.8%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes decreased by 13%.

Median Sold Price Compared To Nearby Cities

Hartland Township
+67.0%
Marengo Township
+30.9%
Marengo
+30.7%
Seneca Township
+18.4%

Housing Supply in Marengo Township, IL

How many homes are available in Marengo Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6470+9.4%

Summary: The Marengo Township real estate market had 70 homes for sale in October 2024, a 9.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1413
-7.1%
3 2428
+16.7%
4 1921
+10.5%
5+ 67
+16.7%

Summary: The Marengo 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 decreased by 7.1%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1710-41.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marengo Township, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in Marengo Township in October 2024, down by 41.2% month-over-month. Of the 10 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for Marengo Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days33 Days+35.0%

Summary: Homes in Marengo Township had an average of 33 days on market in Oct 2024, up by 35% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 10 homes were sold in Marengo Township; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 Marengo Township, IL

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