Is Mount Vernon, 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, Mount Vernon was a Seller's Market.
Key Takeaway
Mount Vernon is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mount Vernon, IL
How much do homes in Mount Vernon, IL cost?
Median Sold Price
$140,000
$87/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mount Vernon have sold for 29.4% more than they did a year ago.
Summary: The median home sold price in Mount Vernon was $140,000 in March 2024, up 29.4% from last year, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $8K | $56.1K | +601.6% |
| 2 Bedrooms | $43.5K | $57.5K | +32.2% |
| 3 Bedrooms | $112.5K | $141K | +25.3% |
| 4 Bedrooms | $213.5K | $191K | -10.5% |
| 5+ Bedrooms | $227.5K | $237.5K | +4.4% |
Summary: Mount Vernon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 601.6%, 2 bedroom homes increased by 32.2%, 3 bedroom homes increased by 25.3%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Cities
| Mount Vernon | $108.1K | $140K | +29.4% |
| Mount Vernon Township | $110K | $140K | +27.3% |
| Shiloh Township | $142.7K | $151.2K | +6.0% |
Housing Supply in Mount Vernon, IL
How many homes are available in Mount Vernon, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 | 68 | +33.3% |
Summary: The Mount Vernon real estate market had 68 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 14 | +40.0% |
| 3 Bedrooms | 24 | 32 | +33.3% |
| 4 Bedrooms | 14 | 18 | +28.6% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Mount Vernon 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 40%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Vernon, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Mount Vernon in March 2024, the same as the previous month. Of the 10 sold homes, 40% were sold under asking, 30% were sold at asking, and 30% were sold over asking.
Days on Market for Mount Vernon, IL
How long does it take to sell a home in Mount Vernon, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 53 Days | 29 Days | -45.4% |
Summary: Homes in Mount Vernon had an average of 29 days on market in Mar 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mount Vernon are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Mount Vernon; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.