Is Farmer City, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Farmer City was a Seller's Market.
Housing Prices in Farmer City, IL
How much do homes in Farmer City, IL cost?
Median Sold Price
$162,000
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Farmer City was $162,000 in May 2024, up 24.6% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $90K | $119.9K | +33.3% |
3 Bedrooms | $135K | $158.5K | +17.4% |
4 Bedrooms | $155.4K | $222.5K | +43.1% |
5+ Bedrooms | $100K | $120K | +20.0% |
Summary: Farmer City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 43.1%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Cities
Farmer City | $130K | $162K | +24.6% |
Santa Anna Township | $133.4K | $155K | +16.1% |
Housing Supply in Farmer City, IL
How many homes are available in Farmer City, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 11 | -15.4% |
Summary: The Farmer City real estate market had 11 homes for sale in May 2024, a 15.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 7 | 6 | -14.3% |
4 Bedrooms | 4 | 2 | -50.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Farmer City housing inventory by bedroom type for May 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 14.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 1 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Farmer City in May 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Farmer City, IL
How long does it take to sell a home in Farmer City, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 136 Days | +3300.0% |
Summary: Homes in Farmer City had an average of 136 days on market in May 2024, up by 3300% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Farmer City; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.