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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Channahon is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Channahon, IL

How much do homes in Channahon, IL cost?

Median Sold Price

$365,500

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$30,500(+9.1%)

Key Takeaway

Homes in Channahon have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Channahon was $365,500 in May 2024, up 9.1% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $244.9K$327K
+33.5%
3 $315K$355K
+12.7%
4 $375K$418.4K
+11.6%
5+ $382.2K$370K
-3.2%

Summary: Channahon 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 33.5%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 3.2%.

Median Sold Price Compared To Nearby Cities

Elwood
+26.0%
Aux Sable Township
+12.4%
Channahon
+9.1%
Channahon
+8.5%
Channahon Township
+5.3%

Housing Supply in Channahon, IL

How many homes are available in Channahon, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6892+35.3%

Summary: The Channahon real estate market had 92 homes for sale in May 2024, a 35.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 713
+85.7%
3 4450
+13.6%
4 1525
+66.7%
5+ 24
+100.0%

Summary: The Channahon 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 85.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1620+25.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Channahon, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in Channahon in May 2024, up by 25.0% month-over-month. Of the 20 sold homes, 35% were sold under asking, 15% were sold at asking, and 50% were sold over asking.

Days on Market for Channahon, IL

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

Average Sale Time

May 2023May 2024CHANGE
10 Days16 Days+54.8%

Summary: Homes in Channahon had an average of 16 days on market in May 2024, up by 54.8% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 20 homes were sold in Channahon; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

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