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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Princeton is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Princeton, IL

How much do homes in Princeton, IL cost?

Median Sold Price

$155,500

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,500(+15.2%)

Key Takeaway

Homes in Princeton have sold for 15.2% more than they did a year ago.

Summary: The median home sold price in Princeton was $155,500 in May 2024, up 15.2% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $64K$89.4K
+39.8%
2 $87K$90.5K
+4.0%
3 $138.5K$156K
+12.6%
4 $170K$182.5K
+7.4%
5+ $143K$162K
+13.3%

Summary: Princeton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.8%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 13.3%.

Median Sold Price Compared To Nearby Cities

Princeton
+15.2%
Princeton Township
+9.9%

Housing Supply in Princeton, IL

How many homes are available in Princeton, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3440+17.6%

Summary: The Princeton real estate market had 40 homes for sale in May 2024, a 17.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 712
+71.4%
3 1113
+18.2%
4 1211
-8.3%
5+ 33
0.0%

Summary: The Princeton 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 71.4%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
811+37.5%

Asking Price vs. Sold Price

7 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 Princeton, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Princeton in May 2024, up by 37.5% month-over-month. Of the 11 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% were sold over asking.

Days on Market for Princeton, IL

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

Average Sale Time

May 2023May 2024CHANGE
52 Days53 Days+1.9%

Summary: Homes in Princeton had an average of 53 days on market in May 2024, up by 1.9% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 11 homes were sold in Princeton; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% 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 Princeton, IL

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