Is Sterling, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Sterling has remained a Seller's Market.
Housing Prices in Sterling, IL
How much do homes in Sterling, IL cost?
Median Sold Price
$119,983
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Sterling was $119,983 in April 2024, up 11.8% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $98.2K | $92K | -6.4% |
2 Bedrooms | $75K | $85K | +13.3% |
3 Bedrooms | $115K | $135K | +17.4% |
4 Bedrooms | $119.5K | $157.3K | +31.7% |
5+ Bedrooms | $85.5K | $132.9K | +55.5% |
Summary: Sterling housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes increased by 55.5%.
Median Sold Price Compared To Nearby Cities
Rock Falls | $80.5K | $102K | +26.7% |
Sterling | $107.3K | $119.9K | +11.8% |
Sterling Township | $112K | $119.9K | +7.1% |
Coloma Township | $87K | $89.9K | +3.3% |
Housing Supply in Sterling, IL
How many homes are available in Sterling, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
62 | 62 | 0.0% |
Summary: The Sterling real estate market had 62 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 18 | 14 | -22.2% |
3 Bedrooms | 27 | 27 | 0.0% |
4 Bedrooms | 12 | 13 | +8.3% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Sterling housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 16 | -15.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Sterling in April 2024, down by 15.8% month-over-month. Of the 16 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Sterling, IL
How long does it take to sell a home in Sterling, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
49 Days | 24 Days | -50.2% |
Summary: Homes in Sterling had an average of 24 days on market in Apr 2024, down by 50.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 16 homes were sold in Sterling; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.