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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ottawa Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Ottawa Township, IL

How much do homes in Ottawa Township, IL cost?

Median Sold Price

$193,500

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,500(+13.8%)

Key Takeaway

Homes in Ottawa Township have sold for 13.8% more than they did a year ago.

Summary: The median home sold price in Ottawa Township was $193,500 in November 2024, up 13.8% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $165K$325.5K
+97.3%
2 $125K$167K
+33.6%
3 $175.4K$190K
+8.3%
4 $218.2K$256K
+17.3%
5+ $320.2K$379K
+18.3%

Summary: Ottawa Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 97.3%, 2 bedroom homes increased by 33.6%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 18.3%.

Median Sold Price Compared To Nearby Cities

Ottawa Township
+13.8%
Ottawa
+13.8%
South Ottawa Township
+12.8%

Housing Supply in Ottawa Township, IL

How many homes are available in Ottawa Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
103108+4.9%

Summary: The Ottawa Township real estate market had 108 homes for sale in November 2024, a 4.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 2530
+20.0%
3 5250
-3.8%
4 2020
0.0%
5+ 35
+66.7%

Summary: The Ottawa 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 increased by 20%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2228+27.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 28 homes were sold or pending in Ottawa Township in November 2024, up by 27.3% month-over-month. Of the 28 sold homes, 50% were sold under asking, 11% were sold at asking, and 39% were sold over asking.

Days on Market for Ottawa Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
50 Days36 Days-27.0%

Summary: Homes in Ottawa Township had an average of 36 days on market in Nov 2024, down by 27% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 28 homes were sold in Ottawa Township; 68% of homes were sold within 30 days, 29% 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 21 Days Ago

Newest Listings in Ottawa Township, IL

Nearby Markets to Ottawa Township, IL

What housing markets are near Ottawa Township, IL?