Is Spring Valley, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spring Valley is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Spring Valley has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Spring Valley, IL

How much do homes in Spring Valley, IL cost?

Median Sold Price

$126,000

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$22,750(+22.0%)

Key Takeaway

Homes in Spring Valley have sold for 22% more than they did a year ago.

Summary: The median home sold price in Spring Valley was $126,000 in March 2024, up 22% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $40K$46.2K
+15.6%
2 $72.5K$86.6K
+19.4%
3 $139.5K$141K
+1.1%
4 $165K$125K
-24.2%
5+ $369K$375K
+1.6%

Summary: Spring Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 24.2%, and 5+ bedroom homes increased by 1.6%.

Median Sold Price Compared To Nearby Cities

Peru Township
+32.0%
Spring Valley
+22.0%
Hall Township
+5.9%

Housing Supply in Spring Valley, IL

How many homes are available in Spring Valley, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1716-5.9%

Summary: The Spring Valley real estate market had 16 homes for sale in March 2024, a 5.9% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 41
-75.0%
3 1213
+8.3%
4 11
0.0%
5+ 01
+100.0%

Summary: The Spring Valley 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 decreased by 75%, 3 bedroom homes increased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spring Valley, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Spring Valley in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.

Days on Market for Spring Valley, IL

How long does it take to sell a home in Spring Valley, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
166 Days56 Days-65.9%

Summary: Homes in Spring Valley had an average of 56 days on market in Mar 2024, down by 65.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 5 homes were sold in Spring Valley; 40% of homes were sold within 30 days, 40% 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 25 Days Ago

Newest Listings in Spring Valley, IL

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