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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mahomet Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Mahomet Township, IL

How much do homes in Mahomet Township, IL cost?

Median Sold Price

$368,675

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$38,675(+11.7%)

Key Takeaway

Homes in Mahomet Township have sold for 11.7% more than they did a year ago.

Summary: The median home sold price in Mahomet Township was $368,675 in May 2024, up 11.7% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $294.9K$265K
-10.2%
3 $290.5K$289.9K
-0.2%
4 $376.5K$440K
+16.9%
5+ $527.5K$350K
-33.6%

Summary: Mahomet Township 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 decreased by 10.2%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes decreased by 33.6%.

Median Sold Price Compared To Nearby Cities

Mahomet Township
+11.7%
Mahomet
+11.0%

Housing Supply in Mahomet Township, IL

How many homes are available in Mahomet Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6557-12.3%

Summary: The Mahomet Township real estate market had 57 homes for sale in May 2024, a 12.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 2015
-25.0%
4 3733
-10.8%
5+ 44
0.0%

Summary: The Mahomet Township 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 increased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 10.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
2115-28.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mahomet Township, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Mahomet Township in May 2024, down by 28.6% month-over-month. Of the 15 sold homes, 53% were sold under asking, 27% were sold at asking, and 20% were sold over asking.

Days on Market for Mahomet Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
31 Days93 Days+193.5%

Summary: Homes in Mahomet Township had an average of 93 days on market in May 2024, up by 193.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 15 homes were sold in Mahomet Township; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% 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 Mahomet Township, IL

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What housing markets are near Mahomet Township, IL?