Is 62294, 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, 62294 has remained a Seller's Market.
Key Takeaway
62294 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62294, IL
How much do homes in 62294, IL cost?
Median Sold Price
$320,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 62294 have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in 62294 was $320,000 in April 2024, up 14.3% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61K | - | N/A |
| 2 Bedrooms | $127K | $172.7K | +36.0% |
| 3 Bedrooms | $235K | $271.7K | +15.6% |
| 4 Bedrooms | $338.7K | $421.9K | +24.6% |
| 5+ Bedrooms | $416.7K | $452.4K | +8.6% |
Summary: 62294 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 36%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes increased by 8.6%.
Housing Supply in 62294, IL
How many homes are available in 62294, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 64 | +8.5% |
Summary: The 62294 real estate market had 64 homes for sale in April 2024, a 8.5% increase 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 | 8 | 8 | 0.0% |
| 3 Bedrooms | 30 | 27 | -10.0% |
| 4 Bedrooms | 15 | 22 | +46.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 62294 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 remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62294, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 62294 in April 2024, the same as the previous month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% were sold over asking.
Days on Market for 62294, IL
How long does it take to sell a home in 62294, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 49 Days | +3.0% |
Summary: Homes in 62294 had an average of 49 days on market in Apr 2024, up by 3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62294 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in 62294; 44% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.