Is 62948, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 62948 has remained a Seller's Market.
Key Takeaway
62948 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62948, IL
How much do homes in 62948, IL cost?
Median Sold Price
$111,500
$78/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 62948 have sold for 14.7% more than they did a year ago.
Summary: The median home sold price in 62948 was $111,500 in April 2024, up 14.7% from last year, and the median price per square foot was $78.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $36.7K | $28K | -23.8% |
| 2 Bedrooms | $68.2K | $67K | -1.8% |
| 3 Bedrooms | $110.3K | $134K | +21.4% |
| 4 Bedrooms | $238.5K | $229.5K | -3.8% |
| 5+ Bedrooms | $157.5K | $362.5K | +130.2% |
Summary: 62948 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.8%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 130.2%.
Median Sold Price Compared To Nearby Zip Codes
| 62948 | $97.2K | $111.5K | +14.7% |
| 62918 | $185K | $193.2K | +4.5% |
Housing Supply in 62948, IL
How many homes are available in 62948, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 70 | +7.7% |
Summary: The 62948 real estate market had 70 homes for sale in April 2024, a 7.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 23 | 22 | -4.3% |
| 3 Bedrooms | 31 | 34 | +9.7% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 62948 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62948, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 62948 in April 2024, down by 6.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 36% were sold at asking, and 29% were sold over asking.
Days on Market for 62948, IL
How long does it take to sell a home in 62948, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 48 Days | +42.7% |
Summary: Homes in 62948 had an average of 48 days on market in Apr 2024, up by 42.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62948 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 62948; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.