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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newport Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Newport Township, IL

How much do homes in Newport Township, IL cost?

Median Sold Price

$383,500

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$58,500(+18.0%)

Key Takeaway

Homes in Newport Township have sold for 18% more than they did a year ago.

Summary: The median home sold price in Newport Township was $383,500 in November 2024, up 18% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $214.4K$224.9K
+4.9%
3 $295K$355.2K
+20.4%
4 $430.1K$415K
-3.5%
5+ $727.2K$580K
-20.2%

Summary: Newport Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 20.4%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes decreased by 20.2%.

Median Sold Price Compared To Nearby Cities

Zion Township
+20.7%
Newport Township
+18.0%
Beach Park
+17.4%
Wadsworth
0.3%

Housing Supply in Newport Township, IL

How many homes are available in Newport Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3630-16.7%

Summary: The Newport Township real estate market had 30 homes for sale in November 2024, a 16.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1310
-23.1%
4 98
-11.1%
5+ 76
-14.3%

Summary: The Newport 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 decreased by 14.3%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
89+12.5%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newport Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Newport Township in November 2024, up by 12.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Newport Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
24 Days14 Days-39.9%

Summary: Homes in Newport Township had an average of 14 days on market in Nov 2024, down by 39.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 9 homes were sold in Newport Township; 89% of homes were sold within 30 days, 11% 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 2 Days Ago

Newest Listings in Newport Township, IL

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