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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Troy is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Troy, IL

How much do homes in Troy, IL cost?

Median Sold Price

$325,000

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$10,000(-3.0%)

Key Takeaway

Homes in Troy have sold for 3% less than they did a year ago.

Summary: The median home sold price in Troy was $325,000 in November 2024, down 3% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$131K
N/A
2 $238.5K$198.8K
-16.6%
3 $280K$262K
-6.4%
4 $400.5K$417.2K
+4.2%
5+ $454.9K$420K
-7.7%

Summary: Troy housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.6%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 7.7%.

Median Sold Price Compared To Nearby Cities

Collinsville Township
+10.5%
Maryville
-0.8%
Jarvis Township
-2.0%
Pin Oak Township
-2.4%
Troy
-3.0%

Housing Supply in Troy, IL

How many homes are available in Troy, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6359-6.3%

Summary: The Troy real estate market had 59 homes for sale in November 2024, a 6.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 46
+50.0%
3 3531
-11.4%
4 1914
-26.3%
5+ 58
+60.0%

Summary: The Troy 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 50%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 26.3%, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1618+12.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Troy, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Troy in November 2024, up by 12.5% month-over-month. Of the 18 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.

Days on Market for Troy, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
36 Days64 Days+76.6%

Summary: Homes in Troy had an average of 64 days on market in Nov 2024, up by 76.6% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Troy has remained consistent over time.

Summary: During November 2024, 18 homes were sold in Troy; 28% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 17% 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 2 Days Ago

Newest Listings in Troy, IL

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