Is 62226, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62226 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 62226 has remained a Seller's Market.

Key Takeaway

62226 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62226, IL

How much do homes in 62226, IL cost?

Median Sold Price

$158,562

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$15,104(-8.7%)

Key Takeaway

Homes in 62226 have sold for 8.7% less than they did a year ago.

Summary: The median home sold price in 62226 was $158,562 in February 2024, down 8.7% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $29.5K$50.5K
+71.2%
2 $114.5K$119.9K
+4.7%
3 $172.5K$165K
-4.3%
4 $312K$275K
-11.9%
5+ $300K$365.5K
+21.8%

Summary: 62226 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 71.2%, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes increased by 21.8%.

Median Sold Price Compared To Nearby Zip Codes

62208
+17.2%
62223
+13.8%
62221
+12.2%
62220
+1.4%
62226
-8.7%

Housing Supply in 62226, IL

How many homes are available in 62226, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
10297-4.9%

Summary: The 62226 real estate market had 97 homes for sale in February 2024, a 4.9% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 2724
-11.1%
3 6256
-9.7%
4 914
+55.6%
5+ 43
-25.0%

Summary: The 62226 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2427+12.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62226, you may be able to get a good deal. 37% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in 62226 in February 2024, up by 12.5% month-over-month. Of the 27 sold homes, 37% were sold under asking, 33% were sold at asking, and 30% were sold over asking.

Days on Market for 62226, IL

How long does it take to sell a home in 62226, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
65 Days60 Days-7.9%

Summary: Homes in 62226 had an average of 60 days on market in Feb 2024, down by 7.9% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62226 has remained consistent over time.

Summary: During February 2024, 27 homes were sold in 62226; 41% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 15% 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 28 Days Ago

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