Is Red Bud, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Red Bud is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Red Bud has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Red Bud, IL

How much do homes in Red Bud, IL cost?

Median Sold Price

$180,000

$114/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$2,750(+1.6%)

Key Takeaway

Homes in Red Bud have sold for 1.6% more than they did a year ago.

Summary: The median home sold price in Red Bud was $180,000 in February 2024, up 1.6% from last year, and the median price per square foot was $114.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$51K
N/A
2 $139.9K$124.9K
-10.7%
3 $175K$185K
+5.7%
4 $229.7K$295K
+28.4%
5+ $181K$220K
+21.5%

Summary: Red Bud housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 28.4%, and 5+ bedroom homes increased by 21.5%.

Median Sold Price Compared To Nearby Cities

Red Bud
+1.6%
Red Bud
-2.5%

Housing Supply in Red Bud, IL

How many homes are available in Red Bud, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
880.0%

Summary: The Red Bud real estate market had 8 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 22
0.0%
4 32
-33.3%
5+ 22
0.0%

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

Number of Homes Sold

Jan 2024Feb 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Red Bud, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Red Bud in February 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for Red Bud, IL

How long does it take to sell a home in Red Bud, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
69 Days113 Days+63.8%

Summary: Homes in Red Bud had an average of 113 days on market in Feb 2024, up by 63.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 2 homes were sold in Red Bud; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 27 Days Ago

Newest Listings in Red Bud, IL

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