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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Malta is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Malta was a Neutral Market.

Key Takeaway

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

Housing Prices in Malta, IL

How much do homes in Malta, IL cost?

Median Sold Price

$225,000

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$2,000(+0.9%)

Key Takeaway

Homes in Malta have sold for 0.9% more than they did a year ago.

Summary: The median home sold price in Malta was $225,000 in May 2024, up 0.9% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $87.5K$156.7K
+79.1%
3 $223K$259.5K
+16.4%
4 $232K$297.5K
+28.2%
5+ $255K$180.8K
-29.1%

Summary: Malta 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 79.1%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes decreased by 29.1%.

Median Sold Price Compared To Nearby Cities

Malta
+0.9%
Malta Township
0.4%

Housing Supply in Malta, IL

How many homes are available in Malta, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
812+50.0%

Summary: The Malta real estate market had 12 homes for sale in May 2024, a 50.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 37
+133.3%
4 34
+33.3%
5+ 11
0.0%

Summary: The Malta 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 decreased by 100%, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Malta, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Malta in May 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.

Days on Market for Malta, IL

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

Average Sale Time

May 2023May 2024CHANGE
10 Days80 Days+705.0%

Summary: Homes in Malta had an average of 80 days on market in May 2024, up by 705% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 4 homes were sold in Malta; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 6 Days Ago

Newest Listings in Malta, IL

Nearby Markets to Malta, IL