Is Mercer County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Mercer County has remained a Seller's Market.
Key Takeaway
Mercer County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mercer County, IL
How much do homes in Mercer County, IL cost?
Median Sold Price
$142,000
$89/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mercer County have sold for 20.9% more than they did a year ago.
Summary: The median home sold price in Mercer County was $142,000 in April 2024, up 20.9% from last year, and the median price per square foot was $89.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $29.7K | $32.3K | +8.7% |
| 2 Bedrooms | $76K | $83K | +9.2% |
| 3 Bedrooms | $128.9K | $145K | +12.4% |
| 4 Bedrooms | $195K | $200K | +2.6% |
| 5+ Bedrooms | $134.5K | $268.9K | +100.0% |
Summary: Mercer County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 100%.
Median Sold Price Compared To Nearby Counties
| Mercer County | $117.5K | $142K | +20.9% |
| Rock Island County | $133.4K | $148.6K | +11.4% |
| Knox County | $99.5K | $106.8K | +7.4% |
| Warren County | $93K | $74.4K | -19.9% |
Housing Supply in Mercer County, IL
How many homes are available in Mercer County, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 51 | 53 | +3.9% |
Summary: The Mercer County real estate market had 53 homes for sale in April 2024, a 3.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 17 | 16 | -5.9% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Mercer County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mercer County, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Mercer County in April 2024, up by 16.7% month-over-month. Of the 14 sold homes, 71% were sold under asking, 21% were sold at asking, and 7% were sold over asking.
Days on Market for Mercer County, IL
How long does it take to sell a home in Mercer County, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 64 Days | +67.0% |
Summary: Homes in Mercer County had an average of 64 days on market in Apr 2024, up by 67% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mercer County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in Mercer County; 57% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.