Is Red Bud, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$184,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Red Bud have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Red Bud was $184,000 in March 2024, up 2.5% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $51K | N/A |
| 2 Bedrooms | $138K | $133.4K | -3.3% |
| 3 Bedrooms | $185K | $222.4K | +20.2% |
| 4 Bedrooms | $164.7K | $295K | +79.1% |
| 5+ Bedrooms | $181K | $222.5K | +22.9% |
Summary: Red Bud housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 79.1%, and 5+ bedroom homes increased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Red Bud | $175K | $202.5K | +15.7% |
| Red Bud | $179.5K | $184K | +2.5% |
Housing Supply in Red Bud, IL
How many homes are available in Red Bud, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Summary: The Red Bud real estate market had 10 homes for sale in March 2024, a 42.9% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 2 | 6 | +200.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Red Bud 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Red Bud, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Red Bud in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 109 Days | 116 Days | +5.9% |
Summary: Homes in Red Bud had an average of 116 days on market in Mar 2024, up by 5.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Red Bud are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in Red Bud; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.