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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Central is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Central was a Seller's Market.

Key Takeaway

Central 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 Central, IL

How much do homes in Central, IL cost?

Median Sold Price

$381,207

$330/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$14,389(+3.9%)

Key Takeaway

Homes in Central have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Central was $381,207 in March 2024, up 3.9% from last year, and the median price per square foot was $330.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $265K$271.2K
+2.4%
2 $405K$408.7K
+0.9%
3 $763.5K$750K
-1.8%
4 $1.1M$1.1M
-0.1%
5+ $900K$1.9M
+115.8%

Summary: Central housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 115.8%.

Median Sold Price Compared To Nearby Neighborhoods

Central
+3.9%
1600 Museum Park
-1.7%

Housing Supply in Central, IL

How many homes are available in Central, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
461591+28.2%

Summary: The Central real estate market had 591 homes for sale in March 2024, a 28.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 135180
+33.3%
2 224284
+26.8%
3 86103
+19.8%
4 1523
+53.3%
5+ 11
0.0%

Summary: The Central housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 26.8%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 53.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
6990+30.4%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

33 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Central, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.

Summary: A total of 90 homes were sold or pending in Central in March 2024, up by 30.4% month-over-month. Of the 90 sold homes, 51% were sold under asking, 12% were sold at asking, and 37% were sold over asking.

Days on Market for Central, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
62 Days47 Days-23.0%

Summary: Homes in Central had an average of 47 days on market in Mar 2024, down by 23% compared to last year.

Breakdown of Home Sale Times

54 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 90 homes were sold in Central; 60% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 18% 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 24 Days Ago

Newest Listings in Central, IL

Nearby Markets to Central, IL