Mattoon Market Update

Mattoon Market Update - June 2024

Closed Sales: In June 2024, Mattoon recorded 34 closed sales, contributing to a year-to-date total of 123 closed sales. This represents a 6% increase from the 116 closed sales YTD in June 2023. The rolling 12-month total for closed sales is 266, indicating strong sales volume and robust market activity, compared to 250 last year, a 6.4% increase.
Sale Prices: The average sale price over the rolling 12-month period in Mattoon is $130,732, showing a 2.5% increase from $127,503 in June 2023. The median sale price is $115,000, which has increased by 19.8% from last year's median of $96,000. Looking further back, the median was $79,100 five years ago (June 2019), reflecting a 45.4% increase. The average price per square foot (R12M) is $83.54, an 8.8% increase from $76.76 last year, and a 40.3% up from $59.54 five years ago (June 2019).

New Listings: June 2024 saw 29 new listings in Mattoon, bringing the year-to-date total to 120 new listings. This is a 6.2% decrease from the 128 new listings recorded in the same period last year. The rolling 12-month total for new listings is 273, compared to 301 a year ago.
Active Listings: At the end of June 2024, there were 11 active listings in Mattoon, reflecting a significant decrease of 47.6% from 21 active listings at the end of June 2023. Five years ago, there were 98 active listings (an 88.8% decrease). The monthly average active inventory over the past year is 13 listings. Three years ago, the 12-month average was 46 active listings, and it was 104 just five years ago.
Months of Supply: Mattoon's real estate market is exceptionally tight, with only a 0.5-month supply of inventory at the end of June. This indicates that homes are selling almost instantly upon listing and represents a decrease from 1.0 months in June 2023. Since March 2023, Mattoon has had less than a 1-month supply of inventory for 12 of the last 16 months.

Pending Sales: There were 31 pending sales in June 2024, making the year-to-date total 126 pending sales. This represents a 10% decrease compared to 140 YTD pending sales in June 2023. The rolling 12-month total for pending sales is 268, reflecting a 6.6% decrease from a year ago.
Days on Market (DOM): The average days on market (R12M) for properties in Mattoon is 24 days, with a median of 5 days. This is a significant decrease from last year's average of 33 days (a 27.3% decrease) and median of 9 days (a 44.4% decrease).

Price Range	2024 YTD Sales	Avg. Sold YTD	% Change
< $50,000	$27.85	27.3	2%
$50,000-$74,999	$55.92	52.3	7%
$75,000-$99,999	$80.08	68.2	17%
$100,000-$124,999	$89.43	86.1	4%
$125,000-$149,999	$96.27	91.7	5%
$150,000-$174,999	$100.67	90.0	12%
$175,000-$199,999	$104.62	96.9	8%
$200,000-$249,999	$93.25	97.4	-4%
$250,000-$299,999	$106.58	93.3	14%
$300,000-$349,999	$101.20	98.0	3%
$350,000-$399,999	$116.91	120.0	-3%
$400,000-$449,999	$92.52	101.8	-9%
$450,000-$499,999	$124.86	132.3	-6%
> $500,000	$231.99	224.3	3%