Is Metropolis, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Metropolis was a Buyer's Market.
Key Takeaway
Metropolis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Metropolis, IL
How much do homes in Metropolis, IL cost?
Median Sold Price
$84,000
$71/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Metropolis have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Metropolis was $84,000 in March 2024, up 11.6% from last year, and the median price per square foot was $71.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35.5K | $45K | +26.8% |
| 2 Bedrooms | $55K | $57K | +3.6% |
| 3 Bedrooms | $80K | $107.9K | +34.9% |
| 4 Bedrooms | $157K | $130K | -17.2% |
| 5+ Bedrooms | $180K | $189K | +5.0% |
Summary: Metropolis housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.8%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 34.9%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
| Lincoln | $80K | $105K | +31.3% |
| Metropolis | $75.2K | $84K | +11.6% |
Housing Supply in Metropolis, IL
How many homes are available in Metropolis, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 36 | +9.1% |
Summary: The Metropolis real estate market had 36 homes for sale in March 2024, a 9.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Metropolis 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 increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Metropolis, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Metropolis in March 2024, up by 14.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Metropolis, IL
How long does it take to sell a home in Metropolis, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 62 Days | +1.6% |
Summary: Homes in Metropolis had an average of 62 days on market in Mar 2024, up by 1.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Metropolis are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Metropolis; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listings displayed are the property of the Western Kentucky Regional MLS (WKMLS) and provided here for consumer's personal, non-commercial use, and may not be used for any purposes other than to identify prospective properties consumers may be interested in purchasing. Each potential buyer is responsible for conducting his or her own independent inspections,investigations, measurements, inquiries and due diligence concerning the property. Although all information contained herein is believed to be accurate, the Real Estate Broker and the Seller of the property make no warranty or guarantee, actual or implied. Copyright 2024 Western Kentucky Regional MLS, Inc.