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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Herscher is a seller's market

Buyer's
Market

Difference Since Last Month

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

Key Takeaway

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

Housing Prices in Herscher, IL

How much do homes in Herscher, IL cost?

Median Sold Price

$229,425

$120/sqft

Based on all homes sold in June 2024.

Difference Since Last Month

+$14,425(+6.7%)

Key Takeaway

Homes in Herscher have sold for 6.7% more than they did a month ago.

Summary: The median home sold price in Herscher was $229,425 in June 2024, up 6.7% from last month, and the median price per square foot was $120.

Median Sold Price By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 --
N/A
2 $215K-
N/A
3 $220K-
N/A
4 -$229.4K
N/A
5+ $198K-
N/A

Summary: Herscher housing prices by bedroom type for June 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 did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Pilot Township
+45.4%
Herscher
+6.7%

Housing Supply in Herscher, IL

How many homes are available in Herscher, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
65-16.7%

Summary: The Herscher real estate market had 5 homes for sale in June 2024, a 16.7% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 22
0.0%
4 23
+50.0%
5+ 10
-100.0%

Summary: The Herscher housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

May 2024Jun 2024CHANGE
31-66.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Herscher, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Herscher in June 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Herscher, IL

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

Average Sale Time

May 2024Jun 2024CHANGE
56 Days63 Days+11.8%

Summary: Homes in Herscher had an average of 63 days on market in Jun 2024, up by 11.8% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was 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 Herscher has remained consistent over time.

Summary: During June 2024, 1 homes were sold in Herscher; 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 12 Days Ago

Newest Listings in Herscher, IL

Nearby Markets to Herscher, IL