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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rantoul is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Rantoul, IL

How much do homes in Rantoul, IL cost?

Median Sold Price

$126,750

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$3,750(+3.0%)

Key Takeaway

Homes in Rantoul have sold for 3% more than they did a year ago.

Summary: The median home sold price in Rantoul was $126,750 in November 2024, up 3% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $65K-
N/A
2 $82.9K$98.5K
+18.7%
3 $121.7K$134K
+10.1%
4 $149K$130K
-12.8%
5+ $173K$159.9K
-7.6%

Summary: Rantoul 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 18.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes decreased by 7.6%.

Median Sold Price Compared To Nearby Cities

Ludlow Township
+21.8%
Rantoul
+3.0%
Rantoul Township
+1.6%

Housing Supply in Rantoul, IL

How many homes are available in Rantoul, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2124+14.3%

Summary: The Rantoul real estate market had 24 homes for sale in November 2024, a 14.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 64
-33.3%
3 1215
+25.0%
4 35
+66.7%
5+ 00
0.0%

Summary: The Rantoul 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 decreased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rantoul, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Rantoul in November 2024, down by 12.5% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Rantoul, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
31 Days12 Days-59.5%

Summary: Homes in Rantoul had an average of 12 days on market in Nov 2024, down by 59.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 7 homes were sold in Rantoul; 100% of homes were sold within 30 days, 0% 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 Rantoul, IL

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