Is 62278, 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, 62278 has remained a Seller's Market.
Key Takeaway
62278 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62278, IL
How much do homes in 62278, IL cost?
Median Sold Price
$220,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 62278 have sold for 25.7% more than they did a year ago.
Summary: The median home sold price in 62278 was $220,000 in April 2024, up 25.7% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $51K | N/A |
| 2 Bedrooms | $135K | $151K | +11.9% |
| 3 Bedrooms | $180K | $259.9K | +44.4% |
| 4 Bedrooms | $150K | $295K | +96.7% |
| 5+ Bedrooms | $181K | $222.5K | +22.9% |
Summary: 62278 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 96.7%, and 5+ bedroom homes increased by 22.9%.
Housing Supply in 62278, IL
How many homes are available in 62278, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The 62278 real estate market had 9 homes for sale in April 2024, a 10.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 62278 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62278, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 62278 in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 62278, IL
How long does it take to sell a home in 62278, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 125 Days | 14 Days | -88.9% |
Summary: Homes in 62278 had an average of 14 days on market in Apr 2024, down by 88.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62278 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 62278; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.