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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Marion, IL cost?

Median Sold Price

$148,000

$91/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$16,866(+12.9%)

Key Takeaway

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

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $23K$54.2K
+135.9%
2 $70.5K$76.9K
+9.1%
3 $131.4K$149.9K
+14.1%
4 $191.5K$252.5K
+31.9%
5+ $320K$400.9K
+25.3%

Median Sold Price Compared To Nearby Cities

West Marion
+13.9%
Marion
+12.9%
East Marion
0.5%

How many homes are available in Marion, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
9586-9.5%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 11
0.0%
2 1919
0.0%
3 5047
-6.0%
4 2418
-25.0%
5+ 11
0.0%

Number of Homes Sold

Aug 2022Sep 2022%
2425+4.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
20 Days33 Days+65.7%

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Marion, IL

Number of homes for sale in Marion, IL real estate market have reached 86. The number of homes for sale in Marion, IL decreased by 9.5% between August 2022 and September 2022. In September 2022 median list price was $148,000 and the average listing age was 33 days. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 135.9%, 2 bedrooms properties became 9.1% more expensive, 3 bedrooms properties prices increased by 14.1%, prices of 4 bedrooms properties increased by 31.9%, prices of 5 bedrooms properties went up by 25.3%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes did not move, 3 bedrooms homes became 6% less available, 4 bedrooms homes became 25% less available, volume of 5 bedrooms homes stayed the same. Marion, IL housing market in September 2022 saw over 5 listings sold above listed price, more than 10 sold at listed price and over 10 sold below.

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