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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Downs Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Downs Township, IL

How much do homes in Downs Township, IL cost?

Median Sold Price

$329,000

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$62,000(+23.2%)

Key Takeaway

Homes in Downs Township have sold for 23.2% more than they did a year ago.

Summary: The median home sold price in Downs Township was $329,000 in May 2024, up 23.2% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $173K$212.5K
+22.8%
3 $239.9K$324.5K
+35.3%
4 $427.4K$392.2K
-8.2%
5+ $465K$592.5K
+27.4%

Summary: Downs 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 increased by 22.8%, 3 bedroom homes increased by 35.3%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes increased by 27.4%.

Median Sold Price Compared To Nearby Cities

Downs Township
+23.2%
Randolph Township
+18.5%
Empire Township
+4.0%

Housing Supply in Downs Township, IL

How many homes are available in Downs Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1219+58.3%

Summary: The Downs Township real estate market had 19 homes for sale in May 2024, a 58.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 912
+33.3%
4 34
+33.3%
5+ 03
+100.0%

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

Number of Homes Sold

Apr 2024May 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downs Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Downs Township in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Downs Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
77 Days2 Days-96.5%

Summary: Homes in Downs Township had an average of 2 days on market in May 2024, down by 96.5% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 6 homes were sold in Downs Township; 100% of homes were sold within 30 days, 0% 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

Newest Listings in Downs Township, IL

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What housing markets are near Downs Township, IL?