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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vermilion County is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Vermilion County was a Buyer's Market.

Key Takeaway

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

Housing Prices in Vermilion County, IL

How much do homes in Vermilion County, IL cost?

Median Sold Price

$95,000

$75/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$25,000(-20.8%)

Key Takeaway

Homes in Vermilion County have sold for 20.8% less than they did a month ago.

Summary: The median home sold price in Vermilion County was $95,000 in March 2024, down 20.8% from last month, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 -$20K
N/A
2 -$47.5K
N/A
3 $115K$97.2K
-15.4%
4 $130K$167.4K
+28.8%
5+ --
N/A

Summary: Vermilion County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 15.4%, 4 bedroom homes increased by 28.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Benton County
+38.3%
Vermilion County
-20.8%

Housing Supply in Vermilion County, IL

How many homes are available in Vermilion County, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7379+8.2%

Summary: The Vermilion County real estate market had 79 homes for sale in March 2024, a 8.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 2026
+30.0%
3 3333
0.0%
4 1513
-13.3%
5+ 35
+66.7%

Summary: The Vermilion County 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 30%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
919+111.1%

Asking Price vs. Sold Price

11 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 Vermilion County, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Vermilion County in March 2024, up by 111.1% month-over-month. Of the 19 sold homes, 58% were sold under asking, 11% were sold at asking, and 32% were sold over asking.

Days on Market for Vermilion County, IL

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

Average Sale Time

Feb 2024Mar 2024CHANGE
63 Days84 Days+33.9%

Summary: Homes in Vermilion County had an average of 84 days on market in Mar 2024, up by 33.9% compared to last month.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Vermilion County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 19 homes were sold in Vermilion County; 37% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 47% 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 24 Days Ago

Newest Listings in Vermilion County, IL

Nearby Markets to Vermilion County, IL

What housing markets are near Vermilion County, IL?