$949 Closing Credit*
$79,900
2,359 SqFt
3 Beds
•2 Full Baths
Chris Hilton, Listing Office: Century 21 Lincoln National Re
Is Spring Bay Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Spring Bay Township has remained a Seller's Market.
Key Takeaway
Spring Bay Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring Bay Township, IL
How much do homes in Spring Bay Township, IL cost?
Median Sold Price
$209,750
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$46,750(+28.7%)
Key Takeaway
Homes in Spring Bay Township have sold for 28.7% more than they did a year ago.
Summary: The median home sold price in Spring Bay Township was $209,750 in October 2024, up 28.7% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $90.9K | +81.9% |
| 2 Bedrooms | $115.2K | $98.5K | -14.5% |
| 3 Bedrooms | $190K | $218.7K | +15.1% |
| 4 Bedrooms | $225K | $351K | +56.0% |
| 5+ Bedrooms | $420K | $389.5K | -7.3% |
Summary: Spring Bay Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 81.9%, 2 bedroom homes decreased by 14.5%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 56%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Spring Bay Township | $163K | $209.7K | +28.7% |
| Worth Township | $251K | $265K | +5.6% |
| Peoria Heights | $119.5K | $116.5K | -2.5% |
Housing Supply in Spring Bay Township, IL
How many homes are available in Spring Bay Township, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The Spring Bay Township real estate market had 8 homes for sale in October 2024, a 11.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Spring Bay 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Bay Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Spring Bay Township in October 2024, up by 400.0% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Spring Bay Township, IL
How long does it take to sell a home in Spring Bay Township, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 82 Days | 36 Days | -55.8% |
Summary: Homes in Spring Bay Township had an average of 36 days on market in Oct 2024, down by 55.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spring Bay Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Spring Bay Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.