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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colfax is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Colfax has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Colfax, IL

How much do homes in Colfax, IL cost?

Median Sold Price

$572,500

$110/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$417,600(+269.6%)

Key Takeaway

Homes in Colfax have sold for 269.6% more than they did a month ago.

Summary: The median home sold price in Colfax was $572,500 in May 2024, up 269.6% from last month, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $154.9K-
N/A
3 --
N/A
4 -$850K
N/A
5+ -$295K
N/A

Summary: Colfax housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Colfax
+269.6%
Martin Township
+90.4%

Housing Supply in Colfax, IL

How many homes are available in Colfax, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
45+25.0%

Summary: The Colfax real estate market had 5 homes for sale in May 2024, a 25.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 02
+100.0%
4 22
0.0%
5+ 11
0.0%

Summary: The Colfax 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 100%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colfax, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Colfax in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Colfax, IL

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

Average Sale Time

Apr 2024May 2024CHANGE
33 Days6 Days-80.3%

Summary: Homes in Colfax had an average of 6 days on market in May 2024, down by 80.3% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 2 homes were sold in Colfax; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 5 Days Ago

Newest Listings in Colfax, IL

Nearby Markets to Colfax, IL