Is Central, 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, Central was a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $271.2K | +2.4% |
2 Bedrooms | $405K | $408.7K | +0.9% |
3 Bedrooms | $763.5K | $750K | -1.8% |
4 Bedrooms | $1.1M | $1.1M | -0.1% |
5+ Bedrooms | $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 | $366.8K | $381.2K | +3.9% |
1600 Museum Park | $485.7K | $477.5K | -1.7% |
Housing Supply in Central, IL
How many homes are available in Central, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
461 | 591 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 135 | 180 | +33.3% |
2 Bedrooms | 224 | 284 | +26.8% |
3 Bedrooms | 86 | 103 | +19.8% |
4 Bedrooms | 15 | 23 | +53.3% |
5+ Bedrooms | 1 | 1 | 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 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 90 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
62 Days | 47 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
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.