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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Centralia is a seller's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Centralia was a Neutral Market.

Key Takeaway

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

Housing Prices in Centralia, IL

How much do homes in Centralia, IL cost?

Median Sold Price

$97,500

$68/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$7,500(+8.3%)

Key Takeaway

Homes in Centralia have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Centralia was $97,500 in March 2024, up 8.3% from last year, and the median price per square foot was $68.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $17K$32.7K
+92.6%
2 $65.5K$67K
+2.3%
3 $114.6K$108K
-5.8%
4 $104.9K$131K
+24.9%
5+ $150K$189.9K
+26.6%

Summary: Centralia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 92.6%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 24.9%, and 5+ bedroom homes increased by 26.6%.

Median Sold Price Compared To Nearby Cities

Centralia
+9.7%
Centralia Township
+8.9%
Centralia
+8.3%

Housing Supply in Centralia, IL

How many homes are available in Centralia, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
5246-11.5%

Summary: The Centralia real estate market had 46 homes for sale in March 2024, a 11.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 2018
-10.0%
3 2120
-4.8%
4 86
-25.0%
5+ 32
-33.3%

Summary: The Centralia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1018+80.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Centralia, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Centralia in March 2024, up by 80.0% month-over-month. Of the 18 sold homes, 50% were sold under asking, 44% were sold at asking, and 6% were sold over asking.

Days on Market for Centralia, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
78 Days25 Days-67.0%

Summary: Homes in Centralia had an average of 25 days on market in Mar 2024, down by 67% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 18 homes were sold in Centralia; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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 22 Days Ago

Newest Listings in Centralia, IL

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