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 September 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

$385,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$4,166(+1.1%)

Key Takeaway

Homes in Mokena have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Mokena was $385,000 in September 2024, up 1.1% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $110K$130K
+18.2%
2 $265K$295K
+11.3%
3 $325K$357.5K
+10.0%
4 $525.7K$525K
-0.1%
5+ $610K$721K
+18.2%

Summary: Mokena housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 18.2%.

Median Sold Price Compared To Nearby Cities

Frankfort Township
+10.2%
Tinley Park
+7.9%
New Lenox Township
+6.0%
Frankfort
+3.7%
Mokena
+1.1%

Housing Supply in Mokena, IL

How many homes are available in Mokena, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
85100+17.6%

Summary: The Mokena real estate market had 100 homes for sale in September 2024, a 17.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 2121
0.0%
3 2628
+7.7%
4 2233
+50.0%
5+ 1416
+14.3%

Summary: The Mokena housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1527+80.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 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. 70.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Mokena in September 2024, up by 80.0% month-over-month. Of the 27 sold homes, 70% were sold under asking, 11% were sold at asking, and 19% 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

Sep 2023Sep 2024CHANGE
22 Days20 Days-6.4%

Summary: Homes in Mokena had an average of 20 days on market in Sep 2024, down by 6.4% compared to last year.

Breakdown of Home Sale Times

21 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 September 2024, 27 homes were sold in Mokena; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% 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 29 Days Ago

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