Is Jerome, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Jerome was a Neutral 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
$141,250
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Jerome have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in Jerome was $141,250 in March 2024, up 14.8% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $120.2K | $121.5K | +1.1% |
| 3 Bedrooms | $134.4K | $142.5K | +6.0% |
| 4 Bedrooms | $136K | $165K | +21.3% |
| 5+ Bedrooms | $155K | $203K | +31.0% |
Summary: Jerome housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 31%.
Median Sold Price Compared To Nearby Cities
| Jerome | $123K | $141.2K | +14.8% |
| Capital Township | $145.3K | $159.7K | +9.9% |
| Springfield | $144.9K | $155.7K | +7.4% |
| Woodside Township | $130.9K | $134.5K | +2.7% |
Housing Supply in Jerome, IL
How many homes are available in Jerome, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Summary: The Jerome real estate market had 5 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Jerome housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jerome, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Jerome in March 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 4 Days | 32 Days | +712.5% |
Summary: Homes in Jerome had an average of 32 days on market in Mar 2024, up by 712.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jerome are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Jerome; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.