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 November 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

$103,750

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,750(+23.5%)

Key Takeaway

Homes in Pana Township have sold for 23.5% more than they did a year ago.

Summary: The median home sold price in Pana Township was $103,750 in November 2024, up 23.5% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $55K$94.5K
+71.8%
3 $100K$101K
+1.0%
4 $105K$184K
+75.2%
5+ $100K$130K
+30.0%

Summary: Pana 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 71.8%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 75.2%, and 5+ bedroom homes increased by 30%.

Median Sold Price Compared To Nearby Cities

Pana
+24.1%
Pana Township
+23.5%

Housing Supply in Pana Township, IL

How many homes are available in Pana Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3028-6.7%

Summary: The Pana Township real estate market had 28 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 89
+12.5%
3 1614
-12.5%
4 54
-20.0%
5+ 00
0.0%

Summary: The Pana 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 12.5%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

3 Homes Were 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 Pana Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Pana Township in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% 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

Nov 2023Nov 2024CHANGE
28 Days23 Days-18.0%

Summary: Homes in Pana Township had an average of 23 days on market in Nov 2024, down by 18% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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 Pana Township has remained consistent over time.

Summary: During November 2024, 4 homes were sold in Pana Township; 25% 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 2 Days Ago

Newest Listings in Pana Township, IL

Nearby Markets to Pana Township, IL