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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Erie is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Erie has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Erie, IL

How much do homes in Erie, IL cost?

Median Sold Price

$97,000

$94/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$130,000(-57.3%)

Key Takeaway

Homes in Erie have sold for 57.3% less than they did a month ago.

Summary: The median home sold price in Erie was $97,000 in March 2024, down 57.3% from last month, and the median price per square foot was $94.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 -$86K
N/A
2 $227K-
N/A
3 $219K$108K
-50.7%
4 --
N/A
5+ --
N/A

Summary: Erie housing prices by bedroom type for March 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 decreased by 50.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Erie
-57.3%
Erie Township
-57.3%

Housing Supply in Erie, IL

How many homes are available in Erie, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
86-25.0%

Summary: The Erie real estate market had 6 homes for sale in March 2024, a 25.0% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 20
-100.0%
3 45
+25.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The Erie 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 100%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 2 homes were sold or pending in Erie in March 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Erie, IL

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

Average Sale Time

Feb 2024Mar 2024CHANGE
8 Days36 Days+338.0%

Summary: Homes in Erie had an average of 36 days on market in Mar 2024, up by 338% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Erie has remained consistent over time.

Summary: During March 2024, 2 homes were sold in Erie; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 Erie, IL

Nearby Markets to Erie, IL