Is 62540, 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, 62540 has remained a Seller's Market.
Key Takeaway
62540 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62540, IL
How much do homes in 62540, IL cost?
Median Sold Price
$87,000
$61/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 62540 have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in 62540 was $87,000 in April 2024, down 1.7% from last year, and the median price per square foot was $61.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $65K | $64.5K | -0.8% |
| 3 Bedrooms | $95.5K | $110.4K | +15.7% |
| 4 Bedrooms | $184K | $213K | +15.8% |
| 5+ Bedrooms | - | $170K | N/A |
Summary: 62540 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 decreased by 0.8%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 62568 | $112K | $127K | +13.4% |
| 62540 | $88.5K | $87K | -1.7% |
Housing Supply in 62540, IL
How many homes are available in 62540, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Summary: The 62540 real estate market had 4 homes for sale in April 2024, a 20.0% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 62540 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 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 62540, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 62540 in April 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 62540, IL
How long does it take to sell a home in 62540, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 5 Days | 108 Days | +2060.0% |
Summary: Homes in 62540 had an average of 108 days on market in Apr 2024, up by 2060% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 62540 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 62540; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.