Is 62471, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62471 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 62471 was a Seller's Market.

Key Takeaway

62471 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 62471, IL

How much do homes in 62471, IL cost?

Median Sold Price

$124,500

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,500(+31.1%)

Key Takeaway

Homes in 62471 have sold for 31.1% more than they did a year ago.

Summary: The median home sold price in 62471 was $124,500 in October 2024, up 31.1% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $20K-
N/A
2 $52.5K$72.4K
+38.0%
3 $135K$124K
-8.1%
4 $136K$174K
+27.9%
5+ $265.5K$345K
+29.9%

Summary: 62471 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 38%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 27.9%, and 5+ bedroom homes increased by 29.9%.

Housing Supply in 62471, IL

How many homes are available in 62471, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3436+5.9%

Summary: The 62471 real estate market had 36 homes for sale in October 2024, a 5.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 69
+50.0%
3 2120
-4.8%
4 55
0.0%
5+ 11
0.0%

Summary: The 62471 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62471, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 62471 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.

Days on Market for 62471, IL

How long does it take to sell a home in 62471, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
59 Days56 Days-5.2%

Summary: Homes in 62471 had an average of 56 days on market in Oct 2024, down by 5.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62471 has remained consistent over time.

Summary: During October 2024, 6 homes were sold in 62471; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% 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 11 Days Ago

Newest Listings in 62471, IL

Nearby Markets to 62471, IL