Is 62298, 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, 62298 has remained a Seller's Market.
Key Takeaway
62298 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62298, IL
How much do homes in 62298, IL cost?
Median Sold Price
$305,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 62298 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 62298 was $305,000 in April 2024, up 1.7% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202K | $293.3K | +45.2% |
| 2 Bedrooms | $184.2K | $189.9K | +3.1% |
| 3 Bedrooms | $298.9K | $308.5K | +3.2% |
| 4 Bedrooms | $344.9K | $350K | +1.5% |
| 5+ Bedrooms | $362.4K | $329.3K | -9.1% |
Summary: 62298 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.2%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 9.1%.
Median Sold Price Compared To Nearby Zip Codes
| 62236 | $295.9K | $325K | +9.8% |
| 62298 | $299.9K | $305K | +1.7% |
Housing Supply in 62298, IL
How many homes are available in 62298, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 54 | 57 | +5.6% |
Summary: The 62298 real estate market had 57 homes for sale in April 2024, a 5.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 35 | 37 | +5.7% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 62298 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 10 | -37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62298, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 62298 in April 2024, down by 37.5% month-over-month. Of the 10 sold homes, 30% were sold under asking, 0% were sold at asking, and 70% were sold over asking.
Days on Market for 62298, IL
How long does it take to sell a home in 62298, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 63 Days | +36.4% |
Summary: Homes in 62298 had an average of 63 days on market in Apr 2024, up by 36.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62298 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in 62298; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.