Is New City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New City is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, New City was a Seller's Market.

Key Takeaway

New City 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 New City, IL

How much do homes in New City, IL cost?

Median Sold Price

$238,000

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$34,000(+16.7%)

Key Takeaway

Homes in New City have sold for 16.7% more than they did a year ago.

Summary: The median home sold price in New City was $238,000 in April 2024, up 16.7% from last year, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $196.4K$204K
+3.8%
2 $155K$247.2K
+59.5%
3 $200K$260K
+30.0%
4 $169.5K$214K
+26.3%
5+ $249K$255K
+2.4%

Summary: New City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 59.5%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 2.4%.

Median Sold Price Compared To Nearby Neighborhoods

New City
+16.7%
Bridgeport
+2.2%
Canaryville
-3.7%
McKinley Park
-11.7%

Housing Supply in New City, IL

How many homes are available in New City, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6793+38.8%

Summary: The New City real estate market had 93 homes for sale in April 2024, a 38.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 12
+100.0%
2 36
+100.0%
3 1418
+28.6%
4 817
+112.5%
5+ 4150
+22.0%

Summary: The New City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 112.5%, and 5+ bedroom homes increased by 22%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
515+200.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New City, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in New City in April 2024, up by 200.0% month-over-month. Of the 15 sold homes, 47% were sold under asking, 13% were sold at asking, and 40% were sold over asking.

Days on Market for New City, IL

How long does it take to sell a home in New City, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
50 Days63 Days+24.0%

Summary: Homes in New City had an average of 63 days on market in Apr 2024, up by 24% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 15 homes were sold in New City; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% 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 4 Days Ago

Newest Listings in New City, IL

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