Is Wood River, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Wood River has remained a Seller's Market.
Key Takeaway
Wood River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wood River, IL
How much do homes in Wood River, IL cost?
Median Sold Price
$118,000
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wood River have sold for 14.7% more than they did a year ago.
Summary: The median home sold price in Wood River was $118,000 in May 2024, up 14.7% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $68.9K | $33.5K | -51.4% |
| 2 Bedrooms | $89.9K | $96K | +6.8% |
| 3 Bedrooms | $116K | $139.2K | +20.0% |
| 4 Bedrooms | $156.2K | $179K | +14.5% |
| 5+ Bedrooms | $150K | $200K | +33.3% |
Summary: Wood River housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 51.4%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 33.3%.
Median Sold Price Compared To Nearby Cities
| East Alton | $99.9K | $128.4K | +28.5% |
| Wood River | $102.9K | $118K | +14.7% |
| Wood River Township | $110K | $125K | +13.6% |
| Bethalto | $179.9K | $180K | 0.1% |
Housing Supply in Wood River, IL
How many homes are available in Wood River, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 37 | 0.0% |
Summary: The Wood River real estate market had 37 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 15 | -6.3% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wood River 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 6.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wood River, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 14 homes were sold or pending in Wood River in May 2024, up by 7.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 43% were sold at asking, and 36% were sold over asking.
Days on Market for Wood River, IL
How long does it take to sell a home in Wood River, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 34 Days | +13.2% |
Summary: Homes in Wood River had an average of 34 days on market in May 2024, up by 13.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wood River are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Wood River; 50% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.