Is 62711, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 62711 has remained a Seller's Market.
Key Takeaway
62711 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62711, IL
How much do homes in 62711, IL cost?
Median Sold Price
$330,000
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 62711 have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in 62711 was $330,000 in March 2024, up 3.3% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $43K | N/A |
| 2 Bedrooms | $217K | $230K | +6.0% |
| 3 Bedrooms | $295K | $292.5K | -0.8% |
| 4 Bedrooms | $375.5K | $378.4K | +0.8% |
| 5+ Bedrooms | $471K | $524.9K | +11.5% |
Summary: 62711 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 11.5%.
Housing Supply in 62711, IL
How many homes are available in 62711, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 65 | +41.3% |
Summary: The 62711 real estate market had 65 homes for sale in March 2024, a 41.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 12 | +71.4% |
| 3 Bedrooms | 22 | 32 | +45.5% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The 62711 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 71.4%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 18 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62711, expect to pay close to the asking price. 38.9% of homes here sold near the asking price last month.
Summary: A total of 18 homes were sold or pending in 62711 in March 2024, up by 50.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 39% were sold at asking, and 28% were sold over asking.
Days on Market for 62711, IL
How long does it take to sell a home in 62711, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 27 Days | +62.1% |
Summary: Homes in 62711 had an average of 27 days on market in Mar 2024, up by 62.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62711 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in 62711; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.