Multi-family Foreclosures in Ottawa, IL

Current Market Conditions in Ottawa, IL

The real estate market in Ottawa, IL is currently experiencing a steady demand as buyers seek affordable housing options in a friendly community. With a mix of historic homes and new construction, the market caters to various buyer preferences. Prices are moderately increasing but remain accessible compared to larger urban centers.

Home sales in Ottawa have remained stable, with an average time on the market of approximately 30-45 days. The inventory of homes for sale is slightly lower than last year, which has resulted in competitive bidding in certain price ranges, particularly for entry-level homes.

Rent Prices In Ottawa, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ottawa, IL, is on a rollercoaster ride. The average rent price in Ottawa, IL, is $1,101.00. Indeed, when looking to rent in Ottawa, IL, you can expect to pay as little as $610.00 or as much as $2,220.00, with the average rent median estimated to be $1,070.00. The good news is that finding an affordable and desirable property to rent in Ottawa, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.