Is Raintree Condos, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Raintree Condos is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Raintree Condos, IL

How much do homes in Raintree Condos, IL cost?

Median Sold Price

$225,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$57,500(+34.3%)

Key Takeaway

Homes in Raintree Condos have sold for 34.3% more than they did a year ago.

Summary: The median home sold price in Raintree Condos was $225,000 in August 2024, up 34.3% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $149.5K$160K
+7.0%
2 $195K$235K
+20.5%
3 --
N/A
4 --
N/A
5+ --
N/A

Summary: Raintree Condos housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 20.5%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Raintree Condos, IL

How many homes are available in Raintree Condos, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
119-18.2%

Summary: The Raintree Condos real estate market had 9 homes for sale in August 2024, a 18.2% decrease compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 22
0.0%
2 97
-22.2%
3 00
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Raintree Condos housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
46+50.0%

Asking Price vs. Sold Price

1 Home Was 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 Raintree Condos, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Raintree Condos in August 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.

Days on Market for Raintree Condos, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
8 Days14 Days+79.2%

Summary: Homes in Raintree Condos had an average of 14 days on market in Aug 2024, up by 79.2% compared to last year.

Breakdown of Home Sale Times

5 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 Raintree Condos are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 6 homes were sold in Raintree Condos; 83% of homes were sold within 30 days, 17% 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 19 Days Ago

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