Is Marion, 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, Marion has remained a Seller's Market.
Housing Prices in Marion, IL
How much do homes in Marion, IL cost?
Median Sold Price
$174,950
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Marion was $174,950 in March 2024, up 12.9% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $33K | $132K | +300.0% |
2 Bedrooms | $74K | $88.8K | +20.0% |
3 Bedrooms | $160K | $175K | +9.4% |
4 Bedrooms | $250K | $264.7K | +5.9% |
5+ Bedrooms | $399.9K | $425K | +6.3% |
Summary: Marion housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
Creal Springs | $165K | $285K | +72.7% |
Marion | $155K | $174.9K | +12.9% |
West Marion | $160K | $169.1K | +5.7% |
East Marion | $183.9K | $180K | -2.1% |
Housing Supply in Marion, IL
How many homes are available in Marion, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
118 | 114 | -3.4% |
Summary: The Marion real estate market had 114 homes for sale in March 2024, a 3.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 20 | 19 | -5.0% |
3 Bedrooms | 65 | 61 | -6.2% |
4 Bedrooms | 25 | 26 | +4.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Marion housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 23 | -11.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Marion in March 2024, down by 11.5% month-over-month. Of the 23 sold homes, 48% were sold under asking, 17% were sold at asking, and 35% were sold over asking.
Days on Market for Marion, IL
How long does it take to sell a home in Marion, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 24 Days | -47.3% |
Summary: Homes in Marion had an average of 24 days on market in Mar 2024, down by 47.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in Marion; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.