Is Litchfield, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Litchfield has remained a Seller's Market.
Housing Prices in Litchfield, IL
How much do homes in Litchfield, IL cost?
Median Sold Price
$116,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Litchfield was $116,000 in March 2024, up 19.5% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $37K | $111K | +200.0% |
2 Bedrooms | $79K | $84K | +6.3% |
3 Bedrooms | $105K | $125K | +19.0% |
4 Bedrooms | $160K | $307.5K | +92.2% |
5+ Bedrooms | $149K | $223.4K | +50.0% |
Summary: Litchfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 92.2%, and 5+ bedroom homes increased by 50%.
Median Sold Price Compared To Nearby Cities
Litchfield | $97.1K | $116K | +19.5% |
South Litchfield Township | $82K | $86.5K | +5.5% |
North Litchfield Township | $124K | $130K | +4.8% |
Housing Supply in Litchfield, IL
How many homes are available in Litchfield, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 29 | +3.6% |
Summary: The Litchfield real estate market had 29 homes for sale in March 2024, a 3.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 8 | -11.1% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 7 | 9 | +28.6% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Litchfield 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 decreased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 7 | +40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Litchfield in March 2024, up by 40.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Litchfield, IL
How long does it take to sell a home in Litchfield, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
96 Days | 75 Days | -22.2% |
Summary: Homes in Litchfield had an average of 75 days on market in Mar 2024, down by 22.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Litchfield; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.