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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Princeton is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Princeton, IL

How much do homes in Princeton, IL cost?

Median Sold Price

$173,500

$105/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$33,500(+23.9%)

Key Takeaway

Homes in Princeton have sold for 23.9% more than they did a year ago.

Summary: The median home sold price in Princeton was $173,500 in October 2024, up 23.9% from last year, and the median price per square foot was $105.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $89.4K$188.2K
+110.5%
2 $94K$142.5K
+51.6%
3 $145K$182.2K
+25.7%
4 $162.5K$192.5K
+18.5%
5+ $156K$175.5K
+12.5%

Summary: Princeton housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 110.5%, 2 bedroom homes increased by 51.6%, 3 bedroom homes increased by 25.7%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 12.5%.

Median Sold Price Compared To Nearby Cities

Princeton
+23.9%
Princeton Township
+21.3%

Housing Supply in Princeton, IL

How many homes are available in Princeton, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3234+6.3%

Summary: The Princeton real estate market had 34 homes for sale in October 2024, a 6.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 54
-20.0%
3 1115
+36.4%
4 119
-18.2%
5+ 34
+33.3%

Summary: The Princeton housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 36.4%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
990.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Princeton, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Princeton in October 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for Princeton, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days16 Days-21.2%

Summary: Homes in Princeton had an average of 16 days on market in Oct 2024, down by 21.2% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 9 homes were sold in Princeton; 89% of homes were sold within 30 days, 11% 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 20 Days Ago

Newest Listings in Princeton, IL

Nearby Markets to Princeton, IL

What housing markets are near Princeton, IL?