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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Jerome is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Jerome, IL

How much do homes in Jerome, IL cost?

Median Sold Price

$145,000

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$16,550(+12.9%)

Key Takeaway

Homes in Jerome have sold for 12.9% more than they did a year ago.

Summary: The median home sold price in Jerome was $145,000 in June 2024, up 12.9% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $75K-
N/A
2 $121.4K$128.5K
+5.8%
3 $139.9K$145.2K
+3.8%
4 $165K$160.5K
-2.7%
5+ $155K$203K
+31.0%

Summary: Jerome housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 31%.

Median Sold Price Compared To Nearby Cities

Woodside Township
+15.5%
Jerome
+12.9%
Springfield
+9.6%
Capital Township
+6.9%
Leland Grove
+4.4%

Housing Supply in Jerome, IL

How many homes are available in Jerome, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
127-41.7%

Summary: The Jerome real estate market had 7 homes for sale in June 2024, a 41.7% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 41
-75.0%
3 86
-25.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Jerome 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 75%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Jerome, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Jerome in June 2024, down by 42.9% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for Jerome, IL

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

Average Sale Time

Jun 2023Jun 2024CHANGE
14 Days2 Days-81.4%

Summary: Homes in Jerome had an average of 2 days on market in Jun 2024, down by 81.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 4 homes were sold in Jerome; 100% of homes were sold within 30 days, 0% 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 21 Days Ago

Newest Listings in Jerome, IL

Nearby Markets to Jerome, IL

What housing markets are near Jerome, IL?