Comprehensive market data and analysis• Updated Dec 2025
72.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | 1 | 4 | 7 |
| 1-2 acres | - | - | - | 2 |
| 2-5 acres | - | - | 1 | 1 |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | - |
| 20-50 acres | - | - | - | - |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 0 | 1 | 5 | 10 |
Acreage buckets
The median price for land in Kankakee, Illinois is currently $65K per acre. For a typical parcel, the median sale price is $36K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $27K while premium lots reached $406K.
Kankakee, Illinois is currently a strong buyer's market with 72.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Kankakee, Illinois currently has 72.0 months of inventory supply. This indicates a strong buyer's market. High supply means buyers have plenty of choices and stronger negotiating position.
Land in Kankakee, Illinois averages $495K per acre. The median price per acre is $65K, which may be more representative of typical transactions. Most parcels sold are around 28,314 sq ft.
The 3-month absorption rate in Kankakee, Illinois is 1.4%. The 12-month rate is 2.4%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
The current absorption rate in Kankakee, Illinois is 1.4% (3-month basis), indicating slow demand. The top-performing broker in this market is LaMore Realty.
Land in Kankakee, Illinois typically sells within 494 days of listing. The median time on market is 387 days. Properties are moving slowly in the current strong buyer's market.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.