Is Granite City, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Granite City has remained a Seller's Market.
Housing Prices in Granite City, IL
How much do homes in Granite City, IL cost?
Median Sold Price
$120,000
$91/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Granite City was $120,000 in February 2024, up 14.9% from last year, and the median price per square foot was $91.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $30K | $25K | -16.7% |
2 Bedrooms | $82K | $85K | +3.7% |
3 Bedrooms | $124.9K | $135K | +8.1% |
4 Bedrooms | $140K | $165K | +17.9% |
5+ Bedrooms | $211.7K | $135K | -36.2% |
Summary: Granite City housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes decreased by 36.2%.
Median Sold Price Compared To Nearby Cities
Granite City Township | $102K | $120K | +17.6% |
Granite City | $104.4K | $120K | +14.9% |
Nameoki Township | $140K | $156.5K | +11.8% |
Chouteau Township | $125.5K | $125.5K | 0.0% |
Housing Supply in Granite City, IL
How many homes are available in Granite City, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
133 | 124 | -6.8% |
Summary: The Granite City real estate market had 124 homes for sale in February 2024, a 6.8% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 50 | 49 | -2.0% |
3 Bedrooms | 60 | 52 | -13.3% |
4 Bedrooms | 15 | 16 | +6.7% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Granite City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
34 | 35 | +2.9% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Granite City in February 2024, up by 2.9% month-over-month. Of the 35 sold homes, 49% were sold under asking, 26% were sold at asking, and 26% were sold over asking.
Days on Market for Granite City, IL
How long does it take to sell a home in Granite City, IL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
77 Days | 58 Days | -24.1% |
Summary: Homes in Granite City had an average of 58 days on market in Feb 2024, down by 24.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During February 2024, 35 homes were sold in Granite City; 37% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.