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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tonica is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Tonica has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Tonica, IL

How much do homes in Tonica, IL cost?

Median Sold Price

$145,862

$84/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$26,137(-15.2%)

Key Takeaway

Homes in Tonica have sold for 15.2% less than they did a month ago.

Summary: The median home sold price in Tonica was $145,862 in October 2024, down 15.2% from last month, and the median price per square foot was $84.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $172K$145.8K
-15.2%
4 --
N/A
5+ --
N/A

Summary: Tonica housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 15.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Tonica
-15.2%
Eden Township
-33.4%

Housing Supply in Tonica, IL

How many homes are available in Tonica, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
43-25.0%

Summary: The Tonica real estate market had 3 homes for sale in October 2024, a 25.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 00
0.0%
3 43
-25.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Tonica 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 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tonica, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Tonica in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Tonica, IL

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

Average Sale Time

Sep 2024Oct 2024CHANGE
8 Days50 Days+525.0%

Summary: Homes in Tonica had an average of 50 days on market in Oct 2024, up by 525% compared to last month.

Breakdown of Home Sale Times

1 Home Was 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 Tonica are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in Tonica; 50% of homes were sold within 30 days, 50% 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 14 Days Ago

Newest Listings in Tonica, IL

Nearby Markets to Tonica, IL