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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Herrin is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Herrin was a Seller's Market.

Key Takeaway

Herrin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Herrin, IL

How much do homes in Herrin, IL cost?

Median Sold Price

$110,000

$73/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$13,000(+13.4%)

Key Takeaway

Homes in Herrin have sold for 13.4% more than they did a year ago.

Summary: The median home sold price in Herrin was $110,000 in January 2024, up 13.4% from last year, and the median price per square foot was $73.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $36.7K$21.5K
-41.5%
2 $65.5K$61.3K
-6.4%
3 $110K$125K
+13.6%
4 $242.5K$219.5K
-9.5%
5+ $220K$333.2K
+51.5%

Summary: Herrin housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41.5%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 51.5%.

Median Sold Price Compared To Nearby Cities

Blairsville
+46.1%
Herrin
+13.4%
Carterville
+9.5%

Housing Supply in Herrin, IL

How many homes are available in Herrin, IL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
4748+2.1%

Summary: The Herrin real estate market had 48 homes for sale in January 2024, a 2.1% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 10
-100.0%
2 1217
+41.7%
3 2220
-9.1%
4 1110
-9.1%
5+ 11
0.0%

Summary: The Herrin housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
166-62.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Herrin, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Herrin in January 2024, down by 62.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Herrin, IL

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

Average Sale Time

Jan 2023Jan 2024CHANGE
64 Days38 Days-40.7%

Summary: Homes in Herrin had an average of 38 days on market in Jan 2024, down by 40.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 6 homes were sold in Herrin; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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 23 Days Ago

Newest Listings in Herrin, IL

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What housing markets are near Herrin, IL?