Mattoon Market Update

Mattoon's Housing Market
Mattoon Market Update - April 2024

Mattoon Market Update - April 2024

Sales Activity

  • Closed Sales: Only 12 properties closed in April 2024, the second-lowest for the month since 2014. Year-to-date closings are at 63, 5.7% below the 20-year average.
  • Sale Prices: The 12-month rolling average sale price increased slightly to $129,020, near Mattoon's record high. This represents a 7% year-over-year increase. The median sale price rose significantly by $500 to $114,950, an 18% year-over-year increase.

Inventory

  • New Listings: April saw 23 new listings, slightly below both the monthly average and median. Year-to-date listings are at 64, below the 20-year average of 84.2.
  • Active Listings: Active inventory increased marginally to 15 properties at the end of April, much lower than the historical average of 69.7 active units for May. The current inventory represents approximately a three-week supply.

Market Demand

  • Pending Sales: April marked the first month in 2024 where new pending sales (24) exceeded the monthly average (23.2) but still fell short of the median of 26 for April.
  • Days on Market (DOM): The average DOM decreased by two days to 26, while the median DOM remained stable at 6 days.

Mattoon's Market (Rolling 12-Months)

CategoryApril 2024April 2023% Change
Interest Rate7.00%6.10%14%
New Listings271308-12%
New Pendings256296-14%
Sold Units260298-13%
Volume$33,545,088$35,810,065-6%
Avg. Sale Price$129,020$120,1687%
Med. Sale Price$114,950$97,75018%
Avg. DOM2634-23%
Med. DOM69-33%

Sold Units by Sale Price

Sale Price2024 YTDYTD Average% Change
< $50,000914.9-40%
$50,000-$74,999713.8-49%
$75,000-$99,9991011.9-16%
$100,000-$124,99997.127%
$125,000-$149,99986.621%
$150,000-$174,99964.825%
$175,000-$199,99932.425%
$200,000-$249,99963.476%
$250,000-$299,99921.625%
$300,000-$349,99910.825%
$350,000-$399,99900.2-100%
$400,000-$449,99910.3233%
$450,000-$499,99910.1900%
$500,00000.2-100%
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