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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mendota is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Mendota, IL

How much do homes in Mendota, IL cost?

Median Sold Price

$150,000

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,000(+36.4%)

Key Takeaway

Homes in Mendota have sold for 36.4% more than they did a year ago.

Summary: The median home sold price in Mendota was $150,000 in October 2024, up 36.4% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$41K
N/A
2 $84.5K$108.5K
+28.4%
3 $135K$153.7K
+13.9%
4 $109.5K$161.2K
+47.3%
5+ $119.5K$360K
+201.3%

Summary: Mendota 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 28.4%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 47.3%, and 5+ bedroom homes increased by 201.3%.

Median Sold Price Compared To Nearby Cities

Mendota
+36.4%
Mendota Township
+36.4%

Housing Supply in Mendota, IL

How many homes are available in Mendota, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1718+5.9%

Summary: The Mendota real estate market had 18 homes for sale in October 2024, a 5.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 43
-25.0%
3 710
+42.9%
4 22
0.0%
5+ 32
-33.3%

Summary: The Mendota 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 25%, 3 bedroom homes increased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
46+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mendota, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Mendota in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for Mendota, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
64 Days44 Days-30.7%

Summary: Homes in Mendota had an average of 44 days on market in Oct 2024, down by 30.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were 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 Mendota has remained consistent over time.

Summary: During October 2024, 6 homes were sold in Mendota; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% 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 Mendota, IL

Nearby Markets to Mendota, IL