Is Sparta, 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, Sparta was a Seller's Market.
Key Takeaway
Sparta is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sparta, IL
How much do homes in Sparta, IL cost?
Median Sold Price
$114,500
$60/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sparta have sold for 60.1% more than they did a year ago.
Summary: The median home sold price in Sparta was $114,500 in March 2024, up 60.1% from last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $40K | $69K | +72.5% |
| 3 Bedrooms | $85K | $135K | +58.8% |
| 4 Bedrooms | $67.3K | $259K | +284.4% |
| 5+ Bedrooms | - | $80K | N/A |
Summary: Sparta 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 increased by 72.5%, 3 bedroom homes increased by 58.8%, 4 bedroom homes increased by 284.4%, and 5+ bedroom homes did not change.
Housing Supply in Sparta, IL
How many homes are available in Sparta, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 34 | +30.8% |
Summary: The Sparta real estate market had 34 homes for sale in March 2024, a 30.8% 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 | 6 | 8 | +33.3% |
| 3 Bedrooms | 13 | 18 | +38.5% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sparta 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 33.3%, 3 bedroom homes increased by 38.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sparta, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Sparta in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Sparta, IL
How long does it take to sell a home in Sparta, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 171 Days | 140 Days | -18.4% |
Summary: Homes in Sparta had an average of 140 days on market in Mar 2024, down by 18.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sparta are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Sparta; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.