Is 62959, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62959 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 62959 has remained a Seller's Market.

Key Takeaway

62959 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62959, IL

How much do homes in 62959, IL cost?

Median Sold Price

$175,000

$106/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$9,050(+5.5%)

Key Takeaway

Homes in 62959 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 62959 was $175,000 in March 2024, up 5.5% from last year, and the median price per square foot was $106.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $85K$132K
+55.3%
2 $75K$87.5K
+16.7%
3 $165.9K$175K
+5.5%
4 $260K$264.7K
+1.8%
5+ $387K$425K
+9.8%

Summary: 62959 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 55.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 9.8%.

Median Sold Price Compared To Nearby Zip Codes

62948
+19.5%
62959
+5.5%
62951
-13.8%

Housing Supply in 62959, IL

How many homes are available in 62959, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
117114-2.6%

Summary: The 62959 real estate market had 114 homes for sale in March 2024, a 2.6% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 21
-50.0%
2 2019
-5.0%
3 6460
-6.3%
4 2527
+8.0%
5+ 67
+16.7%

Summary: The 62959 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2523-8.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62959, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in 62959 in March 2024, down by 8.0% month-over-month. Of the 23 sold homes, 48% were sold under asking, 17% were sold at asking, and 35% were sold over asking.

Days on Market for 62959, IL

How long does it take to sell a home in 62959, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
48 Days24 Days-49.0%

Summary: Homes in 62959 had an average of 24 days on market in Mar 2024, down by 49% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62959 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 23 homes were sold in 62959; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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 18 Days Ago

Newest Listings in 62959, IL

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