Is 62801, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62801 is a neutral's market

Buyer's
Market

Difference Since April 2023

Since last year, 62801 has remained a Neutral Market.

Key Takeaway

62801 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 62801, IL

How much do homes in 62801, IL cost?

Median Sold Price

$97,000

$67/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$7,000(+7.8%)

Key Takeaway

Homes in 62801 have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in 62801 was $97,000 in April 2024, up 7.8% from last year, and the median price per square foot was $67.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $17K$32.7K
+92.6%
2 $68K$68.4K
+0.7%
3 $115K$100K
-13.0%
4 $77.2K$142K
+83.8%
5+ $159.7K$189.9K
+18.9%

Summary: 62801 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 92.6%, 2 bedroom homes increased by 0.7%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 83.8%, and 5+ bedroom homes increased by 18.9%.

Housing Supply in 62801, IL

How many homes are available in 62801, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4951+4.1%

Summary: The 62801 real estate market had 51 homes for sale in April 2024, a 4.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1914
-26.3%
3 2028
+40.0%
4 88
0.0%
5+ 21
-50.0%

Summary: The 62801 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 26.3%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
198-57.9%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62801, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in 62801 in April 2024, down by 57.9% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.

Days on Market for 62801, IL

How long does it take to sell a home in 62801, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
34 Days14 Days-57.1%

Summary: Homes in 62801 had an average of 14 days on market in Apr 2024, down by 57.1% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62801 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 8 homes were sold in 62801; 88% of homes were sold within 30 days, 13% 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 5 Days Ago

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