Is 62221, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 62221 has remained a Seller's Market.
Key Takeaway
62221 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62221, IL
How much do homes in 62221, IL cost?
Median Sold Price
$255,600
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 62221 have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in 62221 was $255,600 in March 2024, up 13.6% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $72.5K | $69K | -4.8% |
| 2 Bedrooms | $120K | $132.5K | +10.4% |
| 3 Bedrooms | $210K | $216K | +2.9% |
| 4 Bedrooms | $296.7K | $311K | +4.8% |
| 5+ Bedrooms | $366K | $389.9K | +6.5% |
Summary: 62221 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 62221, IL
How many homes are available in 62221, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 104 | 107 | +2.9% |
Summary: The 62221 real estate market had 107 homes for sale in March 2024, a 2.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 36 | 47 | +30.6% |
| 4 Bedrooms | 39 | 35 | -10.3% |
| 5+ Bedrooms | 13 | 10 | -23.1% |
Summary: The 62221 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 30.6%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes decreased by 23.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 33 | +3.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62221, you could pay more than the asking price. 42.4% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 62221 in March 2024, up by 3.1% month-over-month. Of the 33 sold homes, 33% were sold under asking, 24% were sold at asking, and 42% were sold over asking.
Days on Market for 62221, IL
How long does it take to sell a home in 62221, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 45 Days | -7.3% |
Summary: Homes in 62221 had an average of 45 days on market in Mar 2024, down by 7.3% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 62221 has remained consistent over time.
Summary: During March 2024, 33 homes were sold in 62221; 36% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.