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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Washington, IL cost?

Median Sold Price

$185,000

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$5,000(+2.8%)

Key Takeaway

Homes in Washington have sold for 2.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $54K-
N/A
2 $100.7K$139.9K
+38.9%
3 $157K$158.2K
+0.8%
4 $257.9K$270K
+4.7%
5+ $289.9K$367K
+26.6%

Median Sold Price Compared To Nearby Cities

East Peoria
+3.2%
Washington
+2.8%
Washington Township
+1.7%

How many homes are available in Washington, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
8270-14.6%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 77
0.0%
3 3226
-18.8%
4 3026
-13.3%
5+ 1311
-15.4%

Number of Homes Sold

Jul 2022Aug 2022%
2928-3.4%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
9 Days8 Days-7.6%

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Washington, IL

Washington, IL has 70 homes for sale to choose from. The number of listings in Washington, IL decreased by 14.6% between July 2022 and August 2022. In August 2022, listings were on the market for 8 days. During the same period, the median list price in this real estate market was $185,000. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, 2 bedrooms properties became 38.9% more expensive, 3 bedrooms properties became 0.8% more expensive, prices of 4 bedrooms properties increased by 4.7%, 5 bedrooms properties prices increased by 26.6%. This housing market inventory have changed: 1 bedroom homes inventory did not change, number of 2 bedrooms homes remained the same, the quantity of 3 bedrooms homes went down by 18.8%, number of 4 bedrooms homes decreased by 13.3%, volume of 5 bedrooms homes went down by 15.4%. In August 2022 more than 14 listings in Washington, IL were sold above the asking price. During the same period more than 5 listings were sold at asking price, while more than 9 were sold below.