Is Jarvis Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Jarvis Township has remained a Seller's Market.
Key Takeaway
Jarvis Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Jarvis Township, IL
How much do homes in Jarvis Township, IL cost?
Median Sold Price
$320,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Jarvis Township have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in Jarvis Township was $320,000 in May 2024, up 16.4% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61K | - | N/A |
| 2 Bedrooms | $122.5K | $195.8K | +59.9% |
| 3 Bedrooms | $235K | $271.7K | +15.6% |
| 4 Bedrooms | $339.9K | $425K | +25.0% |
| 5+ Bedrooms | $413.5K | $407.5K | -1.5% |
Summary: Jarvis 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 59.9%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Jarvis Township | $275K | $320K | +16.4% |
| Troy | $292K | $325K | +11.3% |
| O Fallon | $300K | $319.9K | +6.6% |
| Pin Oak Township | $420K | $435K | +3.6% |
| Saint Jacob Township | $240.5K | $227.6K | -5.4% |
Housing Supply in Jarvis Township, IL
How many homes are available in Jarvis Township, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 72 | +9.1% |
Summary: The Jarvis Township real estate market had 72 homes for sale in May 2024, a 9.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 30 | 34 | +13.3% |
| 4 Bedrooms | 23 | 25 | +8.7% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Jarvis Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 31 | +93.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jarvis Township, you could pay more than the asking price. 48.4% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Jarvis Township in May 2024, up by 93.8% month-over-month. Of the 31 sold homes, 29% were sold under asking, 23% were sold at asking, and 48% were sold over asking.
Days on Market for Jarvis Township, IL
How long does it take to sell a home in Jarvis Township, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 54 Days | 61 Days | +12.9% |
Summary: Homes in Jarvis Township had an average of 61 days on market in May 2024, up by 12.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jarvis Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in Jarvis Township; 48% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.