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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montgomery Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Montgomery Township, IL

How much do homes in Montgomery Township, IL cost?

Median Sold Price

$293,333

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$18,333(+6.7%)

Key Takeaway

Homes in Montgomery Township have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Montgomery Township was $293,333 in November 2024, up 6.7% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $210K$265K
+26.2%
2 $236.5K$246K
+4.0%
3 $271.2K$280K
+3.2%
4 $368K$385K
+4.6%
5+ $349.9K$425K
+21.5%

Summary: Montgomery Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.2%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 21.5%.

Housing Supply in Montgomery Township, IL

How many homes are available in Montgomery Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7774-3.9%

Summary: The Montgomery Township real estate market had 74 homes for sale in November 2024, a 3.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 77
0.0%
3 4139
-4.9%
4 2320
-13.0%
5+ 46
+50.0%

Summary: The Montgomery Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2529+16.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montgomery Township, you may be able to get a good deal. 41.4% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Montgomery Township in November 2024, up by 16.0% month-over-month. Of the 29 sold homes, 41% were sold under asking, 21% were sold at asking, and 38% were sold over asking.

Days on Market for Montgomery Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
19 Days20 Days+7.9%

Summary: Homes in Montgomery Township had an average of 20 days on market in Nov 2024, up by 7.9% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 29 homes were sold in Montgomery Township; 72% of homes were sold within 30 days, 28% 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 11 Days Ago

Newest Listings in Montgomery Township, IL

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