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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Herrin is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Herrin has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Herrin, IL

How much do homes in Herrin, IL cost?

Median Sold Price

$120,111

$80/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$20,111(+20.1%)

Key Takeaway

Homes in Herrin have sold for 20.1% more than they did a year ago.

Summary: The median home sold price in Herrin was $120,111 in September 2024, up 20.1% from last year, and the median price per square foot was $80.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $26K$35K
+34.6%
2 $67.5K$70K
+3.7%
3 $125K$140K
+12.0%
4 $226K$190K
-15.9%
5+ $248.2K$360K
+45.0%

Summary: Herrin housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.6%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes increased by 45%.

Median Sold Price Compared To Nearby Cities

Herrin
+20.1%
Carterville
+13.6%
Blairsville
+8.4%

Housing Supply in Herrin, IL

How many homes are available in Herrin, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6265+4.8%

Summary: The Herrin real estate market had 65 homes for sale in September 2024, a 4.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 1718
+5.9%
3 3539
+11.4%
4 87
-12.5%
5+ 11
0.0%

Summary: The Herrin housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 11.4%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1311-15.4%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 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. 45.5% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Herrin in September 2024, down by 15.4% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% 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

Sep 2023Sep 2024CHANGE
33 Days49 Days+44.9%

Summary: Homes in Herrin had an average of 49 days on market in Sep 2024, up by 44.9% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were 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 September 2024, 11 homes were sold in Herrin; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% 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 30 Days Ago

Newest Listings in Herrin, IL

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