Is 62703, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62703 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 62703 has remained a Seller's Market.

Key Takeaway

62703 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62703, IL

How much do homes in 62703, IL cost?

Median Sold Price

$95,500

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$500(+0.5%)

Key Takeaway

Homes in 62703 have sold for 0.5% more than they did a year ago.

Summary: The median home sold price in 62703 was $95,500 in April 2024, up 0.5% from last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $49.5K$40K
-19.2%
2 $75K$70K
-6.7%
3 $124.9K$125K
0.1%
4 $102.5K$129.9K
+26.7%
5+ $149.7K$160.7K
+7.3%

Summary: 62703 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.2%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 7.3%.

Median Sold Price Compared To Nearby Zip Codes

62712
+6.2%
62704
+4.4%
62703
0.5%

Housing Supply in 62703, IL

How many homes are available in 62703, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
105107+1.9%

Summary: The 62703 real estate market had 107 homes for sale in April 2024, a 1.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 24
+100.0%
2 4748
+2.1%
3 4747
0.0%
4 87
-12.5%
5+ 11
0.0%

Summary: The 62703 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 2.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3532-8.6%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62703, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in 62703 in April 2024, down by 8.6% month-over-month. Of the 32 sold homes, 44% were sold under asking, 16% were sold at asking, and 41% were sold over asking.

Days on Market for 62703, IL

How long does it take to sell a home in 62703, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
8 Days13 Days+54.2%

Summary: Homes in 62703 had an average of 13 days on market in Apr 2024, up by 54.2% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62703 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 32 homes were sold in 62703; 81% of homes were sold within 30 days, 19% 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 3 Days Ago

Newest Listings in 62703, IL

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