Is Sterling, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sterling is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Sterling, IL

How much do homes in Sterling, IL cost?

Median Sold Price

$119,983

$93/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$12,650(+11.8%)

Key Takeaway

Homes in Sterling have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in Sterling was $119,983 in April 2024, up 11.8% from last year, and the median price per square foot was $93.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $98.2K$92K
-6.4%
2 $75K$85K
+13.3%
3 $115K$135K
+17.4%
4 $119.5K$157.3K
+31.7%
5+ $85.5K$132.9K
+55.5%

Summary: Sterling housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes increased by 55.5%.

Median Sold Price Compared To Nearby Cities

Rock Falls
+26.7%
Sterling
+11.8%
Sterling Township
+7.1%
Coloma Township
+3.3%

Housing Supply in Sterling, IL

How many homes are available in Sterling, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
62620.0%

Summary: The Sterling real estate market had 62 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 34
+33.3%
2 1814
-22.2%
3 2727
0.0%
4 1213
+8.3%
5+ 24
+100.0%

Summary: The Sterling housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1916-15.8%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sterling, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Sterling in April 2024, down by 15.8% month-over-month. Of the 16 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.

Days on Market for Sterling, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
49 Days24 Days-50.2%

Summary: Homes in Sterling had an average of 24 days on market in Apr 2024, down by 50.2% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 16 homes were sold in Sterling; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% 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 10 Days Ago

Newest Listings in Sterling, IL

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