Is Central, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Central is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Central has remained a Seller's Market.

Key Takeaway

Central is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Central, IL

How much do homes in Central, IL cost?

Median Sold Price

$384,307

$334/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$18,107(+4.9%)

Key Takeaway

Homes in Central have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Central was $384,307 in April 2024, up 4.9% from last year, and the median price per square foot was $334.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $265.9K$270K
+1.5%
2 $405K$410K
+1.2%
3 $750K$752.5K
0.3%
4 $1.1M$1.1M
-0.1%
5+ $900K$1.9M
+117.8%

Summary: Central housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 117.8%.

Housing Supply in Central, IL

How many homes are available in Central, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
547675+23.4%

Summary: The Central real estate market had 675 homes for sale in April 2024, a 23.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 169223
+32.0%
2 259309
+19.3%
3 99117
+18.2%
4 1925
+31.6%
5+ 11
0.0%

Summary: The Central housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 32%, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
97132+36.1%

Asking Price vs. Sold Price

73 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

49 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Central, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.

Summary: A total of 132 homes were sold or pending in Central in April 2024, up by 36.1% month-over-month. Of the 132 sold homes, 55% were sold under asking, 8% were sold at asking, and 37% were sold over asking.

Days on Market for Central, IL

How long does it take to sell a home in Central, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
47 Days40 Days-16.0%

Summary: Homes in Central had an average of 40 days on market in Apr 2024, down by 16% compared to last year.

Breakdown of Home Sale Times

86 Homes Were Sold
Under 30 Days

28 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Central are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 132 homes were sold in Central; 65% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Central, IL

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