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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pontiac Township is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Pontiac Township was a Neutral Market.

Key Takeaway

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

Housing Prices in Pontiac Township, IL

How much do homes in Pontiac Township, IL cost?

Median Sold Price

$145,000

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,100(+11.6%)

Key Takeaway

Homes in Pontiac Township have sold for 11.6% more than they did a year ago.

Summary: The median home sold price in Pontiac Township was $145,000 in November 2024, up 11.6% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $74K$29.9K
-59.6%
2 $82.2K$96.5K
+17.3%
3 $132.5K$150K
+13.2%
4 $203K$175K
-13.8%
5+ $215K$214K
-0.5%

Summary: Pontiac Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.6%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 13.2%, 4 bedroom homes decreased by 13.8%, and 5+ bedroom homes decreased by 0.5%.

Median Sold Price Compared To Nearby Cities

Pontiac
+13.8%
Pontiac Township
+11.6%

Housing Supply in Pontiac Township, IL

How many homes are available in Pontiac Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4239-7.1%

Summary: The Pontiac Township real estate market had 39 homes for sale in November 2024, a 7.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 77
0.0%
3 2522
-12.0%
4 77
0.0%
5+ 33
0.0%

Summary: The Pontiac 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 remained the same, 3 bedroom homes decreased by 12%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
915+66.7%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pontiac Township, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Pontiac Township in November 2024, up by 66.7% month-over-month. Of the 15 sold homes, 73% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for Pontiac Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
25 Days33 Days+34.4%

Summary: Homes in Pontiac Township had an average of 33 days on market in Nov 2024, up by 34.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 15 homes were sold in Pontiac Township; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% 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 Pontiac Township, IL

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What housing markets are near Pontiac Township, IL?