Is Washington, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 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
$239,900
$133/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Washington have sold for 33.3% more than they did a month ago.
Summary: The median home sold price in Washington was $239,900 in April 2024, up 33.3% from last month, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $112K | $172K | +53.6% |
| 3 Bedrooms | $169.9K | $225K | +32.4% |
| 4 Bedrooms | $296.5K | $300K | +1.2% |
| 5+ Bedrooms | $195K | $417.5K | +114.1% |
Summary: Washington housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 53.6%, 3 bedroom homes increased by 32.4%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 114.1%.
Median Sold Price Compared To Nearby Cities
| Washington | $180K | $239.9K | +33.3% |
| Benton | $110.7K | $128.4K | +16.0% |
Housing Supply in Washington, IL
How many homes are available in Washington, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 70 | 62 | -11.4% |
Summary: The Washington real estate market had 62 homes for sale in April 2024, a 11.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 35 | 26 | -25.7% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Washington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 25.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington, you could pay more than the asking price. 39.1% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Washington in April 2024, up by 9.5% month-over-month. Of the 23 sold homes, 35% were sold under asking, 26% were sold at asking, and 39% 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 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 8 Days | -79.5% |
Summary: Homes in Washington had an average of 8 days on market in Apr 2024, down by 79.5% compared to last month.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Washington are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in Washington; 96% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.