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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pana Township is a neutral's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Pana Township was a Seller's Market.

Key Takeaway

Pana 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 Pana Township, IL

How much do homes in Pana Township, IL cost?

Median Sold Price

$95,500

$75/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$10,500(+12.4%)

Key Takeaway

Homes in Pana Township have sold for 12.4% more than they did a year ago.

Summary: The median home sold price in Pana Township was $95,500 in December 2024, up 12.4% from last year, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$29K
N/A
2 $55.7K$69.9K
+25.4%
3 $108.2K$97.7K
-9.7%
4 $102.5K$186.5K
+82.0%
5+ $100K$130K
+30.0%

Summary: Pana Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.4%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes increased by 82%, and 5+ bedroom homes increased by 30%.

Median Sold Price Compared To Nearby Cities

Pana Township
+12.4%
Pana
+6.1%

Housing Supply in Pana Township, IL

How many homes are available in Pana Township, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
2726-3.7%

Summary: The Pana Township real estate market had 26 homes for sale in December 2024, a 3.7% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 99
0.0%
3 1414
0.0%
4 32
-33.3%
5+ 00
0.0%

Summary: The Pana Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
440.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pana Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Pana Township in December 2024, the same as the previous month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Pana Township, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
28 Days32 Days+16.1%

Summary: Homes in Pana Township had an average of 32 days on market in Dec 2024, up by 16.1% compared to last year.

Breakdown of Home Sale Times

2 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

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

Summary: During December 2024, 4 homes were sold in Pana Township; 50% of homes were sold within 30 days, 50% 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 Pana Township, IL

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