Is 62656, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62656 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 62656 has remained a Seller's Market.

Key Takeaway

62656 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62656, IL

How much do homes in 62656, IL cost?

Median Sold Price

$110,000

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$2,750(-2.4%)

Key Takeaway

Homes in 62656 have sold for 2.4% less than they did a year ago.

Summary: The median home sold price in 62656 was $110,000 in March 2024, down 2.4% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $32K$42K
+31.3%
2 $73K$76.3K
+4.6%
3 $128.7K$119.4K
-7.2%
4 $182.5K$159.2K
-12.7%
5+ $220K$170K
-22.7%

Summary: 62656 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.3%, 2 bedroom homes increased by 4.6%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes decreased by 12.7%, and 5+ bedroom homes decreased by 22.7%.

Housing Supply in 62656, IL

How many homes are available in 62656, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
54540.0%

Summary: The 62656 real estate market had 54 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 33
0.0%
2 1317
+30.8%
3 3023
-23.3%
4 610
+66.7%
5+ 21
-50.0%

Summary: The 62656 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30.8%, 3 bedroom homes decreased by 23.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1720+17.6%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62656, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 20 homes were sold or pending in 62656 in March 2024, up by 17.6% month-over-month. Of the 20 sold homes, 35% were sold under asking, 50% were sold at asking, and 15% were sold over asking.

Days on Market for 62656, IL

How long does it take to sell a home in 62656, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
21 Days11 Days-47.7%

Summary: Homes in 62656 had an average of 11 days on market in Mar 2024, down by 47.7% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62656 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 20 homes were sold in 62656; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% 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 28 Days Ago

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