Is Shannon, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Shannon has remained a Seller's Market.
Key Takeaway
Shannon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shannon, IL
How much do homes in Shannon, IL cost?
Median Sold Price
$247,500
$167/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Shannon have sold for 181.3% more than they did a month ago.
Summary: The median home sold price in Shannon was $247,500 in May 2024, up 181.3% from last month, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $88K | $247.5K | +181.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Shannon housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 181.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Shannon, IL
How many homes are available in Shannon, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Summary: The Shannon real estate market had 1 homes for sale in May 2024, a 50.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Shannon 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 decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shannon, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Shannon in May 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Shannon, IL
How long does it take to sell a home in Shannon, IL?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 5 Days | -28.6% |
Summary: Homes in Shannon had an average of 5 days on market in May 2024, down by 28.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shannon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Shannon; 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.
