Is 62918, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 62918 was a Neutral Market.
Key Takeaway
62918 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62918, IL
How much do homes in 62918, IL cost?
Median Sold Price
$185,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 62918 have sold for 2.6% less than they did a year ago.
Summary: The median home sold price in 62918 was $185,000 in March 2024, down 2.6% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $34.9K | $38K | +8.9% |
| 2 Bedrooms | $90K | $76K | -15.6% |
| 3 Bedrooms | $176.5K | $173.2K | -1.8% |
| 4 Bedrooms | $265K | $287.5K | +8.5% |
| 5+ Bedrooms | $449.9K | $460K | +2.2% |
Summary: 62918 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Zip Codes
| 62948 | $95K | $113.5K | +19.5% |
| 62918 | $189.9K | $185K | -2.6% |
Housing Supply in 62918, IL
How many homes are available in 62918, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 50 | +16.3% |
Summary: The 62918 real estate market had 50 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 27 | 26 | -3.7% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 62918 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62918, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 62918 in March 2024, up by 9.1% month-over-month. Of the 12 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 62918, IL
How long does it take to sell a home in 62918, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 43 Days | +58.5% |
Summary: Homes in 62918 had an average of 43 days on market in Mar 2024, up by 58.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62918 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in 62918; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.