Is Washington, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Washington, IL
How much do homes in Washington, IL cost?
Median Sold Price
$191,000
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Washington have sold for 6.3% less than they did a year ago.
Summary: The median home sold price in Washington was $191,000 in March 2024, down 6.3% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $129.9K | $138.5K | +6.6% |
| 3 Bedrooms | $170K | $170K | 0.0% |
| 4 Bedrooms | $275K | $265K | -3.6% |
| 5+ Bedrooms | $328K | $396.2K | +20.8% |
Summary: Washington 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 6.6%, 3 bedroom homes did not change, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 20.8%.
Median Sold Price Compared To Nearby Cities
| East Peoria | $150K | $170K | +13.3% |
| Washington Township | $174.4K | $191K | +9.5% |
| Washington | $203.7K | $191K | -6.3% |
Housing Supply in Washington, IL
How many homes are available in Washington, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 61 | 58 | -4.9% |
Summary: The Washington real estate market had 58 homes for sale in March 2024, a 4.9% decrease 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 | 9 | 7 | -22.2% |
| 3 Bedrooms | 30 | 29 | -3.3% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Washington 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 22.2%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Washington in March 2024, up by 11.1% month-over-month. Of the 20 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for Washington, IL
How long does it take to sell a home in Washington, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 39 Days | +28.0% |
Summary: Homes in Washington had an average of 39 days on market in Mar 2024, up by 28% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in Washington; 65% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.