Is Marion County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Marion County, IL

How much do homes in Marion County, IL cost?

Median Sold Price

$117,500

$77/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$6,300(+5.7%)

Key Takeaway

Homes in Marion County have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Marion County was $117,500 in May 2024, up 5.7% from last year, and the median price per square foot was $77.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $35K$59.2K
+69.1%
2 $65K$70.4K
+8.4%
3 $124K$124.5K
0.4%
4 $165.7K$155K
-6.5%
5+ $186.5K$220K
+18.0%

Summary: Marion County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 69.1%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes increased by 18%.

Median Sold Price Compared To Nearby Counties

Jefferson County
+12.3%
Fayette County
+7.6%
Marion County
+5.7%
Clinton County
+4.8%
Clay County
-0.1%

Housing Supply in Marion County, IL

How many homes are available in Marion County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
116135+16.4%

Summary: The Marion County real estate market had 135 homes for sale in May 2024, a 16.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 24
+100.0%
2 3640
+11.1%
3 5860
+3.4%
4 1725
+47.1%
5+ 36
+100.0%

Summary: The Marion County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 47.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
24240.0%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion County, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Marion County in May 2024, the same as the previous month. Of the 24 sold homes, 58% were sold under asking, 25% were sold at asking, and 17% were sold over asking.

Days on Market for Marion County, IL

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

Average Sale Time

May 2023May 2024CHANGE
43 Days34 Days-21.1%

Summary: Homes in Marion County had an average of 34 days on market in May 2024, down by 21.1% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 24 homes were sold in Marion County; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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 1 Day Ago

Newest Listings in Marion County, IL

Nearby Markets to Marion County, IL

What housing markets are near Marion County, IL?