Is 62234, 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, 62234 has remained a Seller's Market.
Key Takeaway
62234 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62234, IL
How much do homes in 62234, IL cost?
Median Sold Price
$175,500
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 62234 have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in 62234 was $175,500 in March 2024, up 7.2% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47K | $54K | +14.9% |
| 2 Bedrooms | $112K | $126.5K | +12.9% |
| 3 Bedrooms | $171K | $193K | +12.9% |
| 4 Bedrooms | $235K | $259.9K | +10.6% |
| 5+ Bedrooms | $237.5K | $362.5K | +52.6% |
Summary: 62234 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 52.6%.
Housing Supply in 62234, IL
How many homes are available in 62234, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 83 | 77 | -7.2% |
Summary: The 62234 real estate market had 77 homes for sale in March 2024, a 7.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 25 | 24 | -4.0% |
| 3 Bedrooms | 39 | 35 | -10.3% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 62234 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 34 | +30.8% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62234, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 62234 in March 2024, up by 30.8% month-over-month. Of the 34 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% were sold over asking.
Days on Market for 62234, IL
How long does it take to sell a home in 62234, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 45 Days | -0.8% |
Summary: Homes in 62234 had an average of 45 days on market in Mar 2024, down by 0.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 62234 has remained consistent over time.
Summary: During March 2024, 34 homes were sold in 62234; 32% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.