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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sterling Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Sterling Township, IL

How much do homes in Sterling Township, IL cost?

Median Sold Price

$128,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$18,083(+16.5%)

Key Takeaway

Homes in Sterling Township have sold for 16.5% more than they did a year ago.

Summary: The median home sold price in Sterling Township was $128,000 in November 2024, up 16.5% from last year, and the median price per square foot was $98.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $62.9K$89.9K
+42.9%
2 $83.7K$90K
+7.5%
3 $124.4K$125.5K
+0.8%
4 $137.5K$192K
+39.6%
5+ $109.5K$428.7K
+291.6%

Summary: Sterling Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.9%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 39.6%, and 5+ bedroom homes increased by 291.6%.

Median Sold Price Compared To Nearby Cities

Sterling
+17.7%
Coloma Township
+17.6%
Sterling Township
+16.5%
Rock Falls
+13.2%
Hopkins Township
+11.9%

Housing Supply in Sterling Township, IL

How many homes are available in Sterling Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7085+21.4%

Summary: The Sterling Township real estate market had 85 homes for sale in November 2024, a 21.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 2429
+20.8%
3 2533
+32.0%
4 1617
+6.3%
5+ 34
+33.3%

Summary: The Sterling Township 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 increased by 20.8%, 3 bedroom homes increased by 32%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1315+15.4%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sterling Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Sterling Township in November 2024, up by 15.4% month-over-month. Of the 15 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for Sterling Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
23 Days17 Days-28.5%

Summary: Homes in Sterling Township had an average of 17 days on market in Nov 2024, down by 28.5% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 15 homes were sold in Sterling Township; 80% of homes were sold within 30 days, 20% 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 17 Days Ago

Newest Listings in Sterling Township, IL

Nearby Markets to Sterling Township, IL

What housing markets are near Sterling Township, IL?