Is Fayette County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette County is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Fayette County was a Buyer's Market.

Key Takeaway

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

Housing Prices in Fayette County, IL

How much do homes in Fayette County, IL cost?

Median Sold Price

$115,000

$74/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since February 2023.

Key Takeaway

The sold price of homes in Fayette County has remained the same since last year.

Summary: The median home sold price in Fayette County was $115,000 in February 2024, the same as last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $35.5K-
N/A
2 $60K$60K
0.0%
3 $123.5K$122.2K
-1.0%
4 $145K$160K
+10.3%
5+ $208K$210.2K
+1.1%

Summary: Fayette County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Counties

Montgomery County
+13.3%
Bond County
+10.9%
Fayette County
0.0%

Housing Supply in Fayette County, IL

How many homes are available in Fayette County, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3135+12.9%

Summary: The Fayette County real estate market had 35 homes for sale in February 2024, a 12.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 98
-11.1%
3 1618
+12.5%
4 47
+75.0%
5+ 22
0.0%

Summary: The Fayette County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
310+233.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette County, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Fayette County in February 2024, up by 233.3% month-over-month. Of the 10 sold homes, 40% were sold under asking, 30% were sold at asking, and 30% were sold over asking.

Days on Market for Fayette County, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days66 Days+73.9%

Summary: Homes in Fayette County had an average of 66 days on market in Feb 2024, up by 73.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Fayette County has remained consistent over time.

Summary: During February 2024, 10 homes were sold in Fayette County; 20% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 30% 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 27 Days Ago

Newest Listings in Fayette County, IL

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What housing markets are near Fayette County, IL?