Is Sangamon County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sangamon County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Sangamon County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Sangamon County, IL

How much do homes in Sangamon County, IL cost?

Median Sold Price

$169,750

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$9,069(+5.6%)

Key Takeaway

Homes in Sangamon County have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Sangamon County was $169,750 in March 2024, up 5.6% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $48.8K$42.7K
-12.5%
2 $95.4K$98.2K
+2.9%
3 $163.3K$169.9K
+4.0%
4 $275K$270K
-1.8%
5+ $399.4K$436K
+9.2%

Summary: Sangamon County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Counties

Christian County
+20.3%
Sangamon County
+5.6%
Logan County
+0.9%
Menard County
0.2%

Housing Supply in Sangamon County, IL

How many homes are available in Sangamon County, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
477549+15.1%

Summary: The Sangamon County real estate market had 549 homes for sale in March 2024, a 15.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 98
-11.1%
2 109131
+20.2%
3 222259
+16.7%
4 96106
+10.4%
5+ 4145
+9.8%

Summary: The Sangamon County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 20.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 9.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
127181+42.5%

Asking Price vs. Sold Price

89 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

55 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sangamon County, you may be able to get a good deal. 49.2% of homes here sold below asking price last month.

Summary: A total of 181 homes were sold or pending in Sangamon County in March 2024, up by 42.5% month-over-month. Of the 181 sold homes, 49% were sold under asking, 20% were sold at asking, and 30% were sold over asking.

Days on Market for Sangamon County, IL

How long does it take to sell a home in Sangamon County, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
23 Days22 Days-2.4%

Summary: Homes in Sangamon County had an average of 22 days on market in Mar 2024, down by 2.4% compared to last year.

Breakdown of Home Sale Times

138 Homes Were Sold
Under 30 Days

30 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 181 homes were sold in Sangamon County; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% 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 18 Days Ago

Newest Listings in Sangamon County, IL

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