Is Spring Valley, 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, Spring Valley has remained a Seller's Market.
Housing Prices in Spring Valley, IL
How much do homes in Spring Valley, IL cost?
Median Sold Price
$130,000
$99/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Spring Valley was $130,000 in May 2024, up 13.8% from last year, and the median price per square foot was $99.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $40K | $46.2K | +15.6% |
2 Bedrooms | $75K | $86.6K | +15.5% |
3 Bedrooms | $137K | $151K | +10.2% |
4 Bedrooms | $165K | $125K | -24.2% |
5+ Bedrooms | $369K | $375K | +1.6% |
Summary: Spring Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 10.2%, 4 bedroom homes decreased by 24.2%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Peru Township | $143K | $167K | +16.8% |
Spring Valley | $114.2K | $130K | +13.8% |
Hall Township | $124.7K | $130K | +4.3% |
Granville Township | $128.5K | $123K | -4.3% |
Housing Supply in Spring Valley, IL
How many homes are available in Spring Valley, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 21 | +40.0% |
Summary: The Spring Valley real estate market had 21 homes for sale in May 2024, a 40.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 7 | 0.0% |
3 Bedrooms | 7 | 12 | +71.4% |
4 Bedrooms | 0 | 1 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Spring Valley 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 remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 6 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Spring Valley in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Spring Valley, IL
How long does it take to sell a home in Spring Valley, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
103 Days | 11 Days | -89.1% |
Summary: Homes in Spring Valley had an average of 11 days on market in May 2024, down by 89.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Spring Valley; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.