Is Merrionette Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merrionette Park is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Merrionette Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Merrionette Park, IL

How much do homes in Merrionette Park, IL cost?

Median Sold Price

$205,000

$158/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$48,500(-19.1%)

Key Takeaway

Homes in Merrionette Park have sold for 19.1% less than they did a month ago.

Summary: The median home sold price in Merrionette Park was $205,000 in September 2024, down 19.1% from last month, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 $192K$152.5K
-20.6%
3 -$212.5K
N/A
4 $315K-
N/A
5+ --
N/A

Summary: Merrionette Park housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.6%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Merrionette Park, IL

How many homes are available in Merrionette Park, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
56+20.0%

Summary: The Merrionette Park real estate market had 6 homes for sale in September 2024, a 20.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 12
+100.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The Merrionette Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merrionette Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Merrionette Park in September 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Merrionette Park, IL

How long does it take to sell a home in Merrionette Park, IL?

Average Sale Time

Aug 2024Sep 2024CHANGE
9 Days14 Days+59.3%

Summary: Homes in Merrionette Park had an average of 14 days on market in Sep 2024, up by 59.3% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 3 homes were sold in Merrionette Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 10 Days Ago

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