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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Ottawa Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, South Ottawa Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in South Ottawa Township, IL

How much do homes in South Ottawa Township, IL cost?

Median Sold Price

$200,000

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,500(+11.4%)

Key Takeaway

Homes in South Ottawa Township have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in South Ottawa Township was $200,000 in October 2024, up 11.4% from last year, and the median price per square foot was $139.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $151.5K$165.6K
+9.3%
3 $180.5K$200.5K
+11.1%
4 $213.7K$253K
+18.4%
5+ $322.7K-
N/A

Summary: South Ottawa Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Ottawa
+16.5%
Ottawa Township
+14.0%
South Ottawa Township
+11.4%

Housing Supply in South Ottawa Township, IL

How many homes are available in South Ottawa Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3243+34.4%

Summary: The South Ottawa Township real estate market had 43 homes for sale in October 2024, a 34.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 58
+60.0%
3 2329
+26.1%
4 46
+50.0%
5+ 00
0.0%

Summary: The South Ottawa Township 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 increased by 60%, 3 bedroom homes increased by 26.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
611+83.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Ottawa Township, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in South Ottawa Township in October 2024, up by 83.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.

Days on Market for South Ottawa Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days23 Days-7.1%

Summary: Homes in South Ottawa Township had an average of 23 days on market in Oct 2024, down by 7.1% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 11 homes were sold in South Ottawa Township; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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 South Ottawa Township, IL

Nearby Markets to South Ottawa Township, IL

What housing markets are near South Ottawa Township, IL?