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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Olney is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Olney has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Olney, IL

How much do homes in Olney, IL cost?

Median Sold Price

$142,500

$18/sqft

Based on all homes sold in December 2024.

Difference Since Last Month

+$87,500(+159.1%)

Key Takeaway

Homes in Olney have sold for 159.1% more than they did a month ago.

Summary: The median home sold price in Olney was $142,500 in December 2024, up 159.1% from last month, and the median price per square foot was $18.

Median Sold Price By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 --
N/A
2 $64K$25K
-60.9%
3 $45.8K-
N/A
4 --
N/A
5+ -$260K
N/A

Summary: Olney housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 60.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Olney
+159.1%
Olney Township
+159.1%

Housing Supply in Olney, IL

How many homes are available in Olney, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1310-23.1%

Summary: The Olney real estate market had 10 homes for sale in December 2024, a 23.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 43
-25.0%
3 53
-40.0%
4 00
0.0%
5+ 33
0.0%

Summary: The Olney housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
32-33.3%

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 Olney, 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 Olney in December 2024, down by 33.3% 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 Olney, IL

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

Average Sale Time

Nov 2024Dec 2024CHANGE
21 Days46 Days+115.6%

Summary: Homes in Olney had an average of 46 days on market in Dec 2024, up by 115.6% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Olney has remained consistent over time.

Summary: During December 2024, 2 homes were sold in Olney; 0% of homes were sold within 30 days, 100% 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 4 Days Ago

Newest Listings in Olney, IL

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