Is Colchester, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Colchester was a Buyer's Market.
Key Takeaway
Colchester 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 Colchester, IL
How much do homes in Colchester, IL cost?
Median Sold Price
$135,000
$64/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Colchester have sold for 71.9% less than they did a month ago.
Summary: The median home sold price in Colchester was $135,000 in May 2024, down 71.9% from last month, and the median price per square foot was $64.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | $480K | $135K | -71.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Colchester housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 71.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Colchester | $480K | $135K | -71.9% |
| Colchester Township | $480K | $135K | -71.9% |
Housing Supply in Colchester, IL
How many homes are available in Colchester, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Summary: The Colchester real estate market had 7 homes for sale in May 2024, a 12.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Colchester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colchester, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Colchester in May 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Colchester, IL
How long does it take to sell a home in Colchester, IL?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 14 Days | -58.8% |
Summary: Homes in Colchester had an average of 14 days on market in May 2024, down by 58.8% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colchester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Colchester; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.