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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tazewell County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Tazewell County, IL

How much do homes in Tazewell County, IL cost?

Median Sold Price

$160,000

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,113(+6.7%)

Key Takeaway

Homes in Tazewell County have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Tazewell County was $160,000 in May 2024, up 6.7% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $44K$39K
-11.4%
2 $95.5K$98.4K
+3.1%
3 $145K$162.6K
+12.1%
4 $222.9K$235K
+5.4%
5+ $320K$350K
+9.4%

Summary: Tazewell County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.4%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 9.4%.

Median Sold Price Compared To Nearby Counties

Woodford County
+19.6%
Mason County
+9.8%
Tazewell County
+6.7%
Peoria County
+3.0%
Logan County
-1.9%

Housing Supply in Tazewell County, IL

How many homes are available in Tazewell County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
408403-1.2%

Summary: The Tazewell County real estate market had 403 homes for sale in May 2024, a 1.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 55
0.0%
2 7976
-3.8%
3 182186
+2.2%
4 10086
-14.0%
5+ 4250
+19.0%

Summary: The Tazewell County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes increased by 19%.

Number of Homes Sold

Apr 2024May 2024CHANGE
141146+3.5%

Asking Price vs. Sold Price

57 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

60 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tazewell County, you could pay more than the asking price. 41.1% of homes here sold above asking price last month.

Summary: A total of 146 homes were sold or pending in Tazewell County in May 2024, up by 3.5% month-over-month. Of the 146 sold homes, 39% were sold under asking, 20% were sold at asking, and 41% were sold over asking.

Days on Market for Tazewell County, IL

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

Average Sale Time

May 2023May 2024CHANGE
21 Days15 Days-25.9%

Summary: Homes in Tazewell County had an average of 15 days on market in May 2024, down by 25.9% compared to last year.

Breakdown of Home Sale Times

121 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 146 homes were sold in Tazewell County; 83% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 5% 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

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