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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mokena is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Mokena, IL

How much do homes in Mokena, IL cost?

Median Sold Price

$380,000

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$25,000(-6.2%)

Key Takeaway

Homes in Mokena have sold for 6.2% less than they did a year ago.

Summary: The median home sold price in Mokena was $380,000 in November 2024, down 6.2% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $168.5K$189.9K
+12.7%
2 $279K$295K
+5.7%
3 $335K$365K
+9.0%
4 $527.5K$495K
-6.2%
5+ $640.7K$735.5K
+14.8%

Summary: Mokena housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 9%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes increased by 14.8%.

Median Sold Price Compared To Nearby Cities

Frankfort
+7.7%
Frankfort Township
+7.4%
Tinley Park
+6.3%
New Lenox Township
+5.1%
Mokena
-6.2%

Housing Supply in Mokena, IL

How many homes are available in Mokena, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8886-2.3%

Summary: The Mokena real estate market had 86 homes for sale in November 2024, a 2.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 12
+100.0%
2 1921
+10.5%
3 2928
-3.4%
4 2725
-7.4%
5+ 1210
-16.7%

Summary: The Mokena housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10.5%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2620-23.1%

Asking Price vs. Sold Price

12 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 Mokena, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Mokena in November 2024, down by 23.1% month-over-month. Of the 20 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for Mokena, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
21 Days21 Days-1.2%

Summary: Homes in Mokena had an average of 21 days on market in Nov 2024, down by 1.2% compared to last year.

Breakdown of Home Sale Times

14 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 Mokena are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 20 homes were sold in Mokena; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% 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

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