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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tremont is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Tremont was a Seller's Market.

Key Takeaway

Tremont is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Tremont, IL

How much do homes in Tremont, IL cost?

Median Sold Price

$182,500

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$22,500(-11.0%)

Key Takeaway

Homes in Tremont have sold for 11% less than they did a year ago.

Summary: The median home sold price in Tremont was $182,500 in October 2024, down 11% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $117K$168K
+43.6%
3 $171K$170.5K
-0.3%
4 $290K$281K
-3.1%
5+ $425.5K-
N/A

Summary: Tremont 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 43.6%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Elm Grove Township
+8.4%
Tremont
-11.0%
Tremont Township
-14.1%

Housing Supply in Tremont, IL

How many homes are available in Tremont, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1412-14.3%

Summary: The Tremont real estate market had 12 homes for sale in October 2024, a 14.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 42
-50.0%
3 43
-25.0%
4 45
+25.0%
5+ 22
0.0%

Summary: The Tremont 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 decreased by 50%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tremont, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Tremont in October 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Tremont, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days7 Days-60.0%

Summary: Homes in Tremont had an average of 7 days on market in Oct 2024, down by 60% compared to last year.

Breakdown of Home Sale Times

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

Summary: During October 2024, 1 homes were sold in Tremont; 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 22 Days Ago

Newest Listings in Tremont, IL

Nearby Markets to Tremont, IL