Is 62275, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62275 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 62275 has remained a Seller's Market.

Key Takeaway

62275 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62275, IL

How much do homes in 62275, IL cost?

Median Sold Price

$226,000

$111/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$18,100(+8.7%)

Key Takeaway

Homes in 62275 have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in 62275 was $226,000 in March 2024, up 8.7% from last year, and the median price per square foot was $111.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $109K-
N/A
2 -$90K
N/A
3 $186.4K$270K
+44.8%
4 $370.5K$275K
-25.8%
5+ $92.2K-
N/A

Summary: 62275 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 44.8%, 4 bedroom homes decreased by 25.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

62275
+8.7%
62246
+7.4%
62249
+6.9%

Housing Supply in 62275, IL

How many homes are available in 62275, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
78+14.3%

Summary: The 62275 real estate market had 8 homes for sale in March 2024, a 14.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 32
-33.3%
3 45
+25.0%
4 00
0.0%
5+ 00
0.0%

Summary: The 62275 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
220.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62275, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in 62275 in March 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for 62275, IL

How long does it take to sell a home in 62275, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
132 Days31 Days-76.5%

Summary: Homes in 62275 had an average of 31 days on market in Mar 2024, down by 76.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62275 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 2 homes were sold in 62275; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 24 Days Ago

Newest Listings in 62275, IL

Nearby Markets to 62275, IL