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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monmouth Township is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Monmouth Township was a Buyer's Market.

Key Takeaway

Monmouth 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 Monmouth Township, IL

How much do homes in Monmouth Township, IL cost?

Median Sold Price

$105,000

$66/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,750(+20.3%)

Key Takeaway

Homes in Monmouth Township have sold for 20.3% more than they did a year ago.

Summary: The median home sold price in Monmouth Township was $105,000 in October 2024, up 20.3% from last year, and the median price per square foot was $66.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $24.9K$125K
+402.0%
2 $59.2K$77.5K
+30.8%
3 $91.5K$85K
-7.1%
4 $108.5K$136.5K
+25.8%
5+ $420K$227.4K
-45.8%

Summary: Monmouth Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 402%, 2 bedroom homes increased by 30.8%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes decreased by 45.8%.

Median Sold Price Compared To Nearby Cities

Monmouth Township
+20.3%
Monmouth
+20.3%
Spring Grove Township
+11.9%

Housing Supply in Monmouth Township, IL

How many homes are available in Monmouth Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1614-12.5%

Summary: The Monmouth Township real estate market had 14 homes for sale in October 2024, a 12.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 65
-16.7%
3 55
0.0%
4 33
0.0%
5+ 10
-100.0%

Summary: The Monmouth 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 16.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monmouth Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Monmouth Township in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Monmouth Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
2 Days9 Days+350.0%

Summary: Homes in Monmouth Township had an average of 9 days on market in Oct 2024, up by 350% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 2 homes were sold in Monmouth Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in Monmouth Township, IL

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