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 September 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

$220,000

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$25,000(+12.8%)

Key Takeaway

Homes in Washington have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in Washington was $220,000 in September 2024, up 12.8% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $126K$135K
+7.1%
3 $167K$185K
+10.8%
4 $265K$300K
+13.2%
5+ $398.2K$410K
+3.0%

Summary: Washington housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 3%.

Housing Supply in Washington, IL

How many homes are available in Washington, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
10489-14.4%

Summary: The Washington real estate market had 89 homes for sale in September 2024, a 14.4% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 88
0.0%
3 4137
-9.8%
4 3532
-8.6%
5+ 2012
-40.0%

Summary: The Washington housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.8%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3324-27.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Washington in September 2024, down by 27.3% month-over-month. Of the 24 sold homes, 46% were sold under asking, 25% were sold at asking, and 29% 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

Sep 2023Sep 2024CHANGE
5 Days13 Days+123.2%

Summary: Homes in Washington had an average of 13 days on market in Sep 2024, up by 123.2% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

4 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.

Summary: During September 2024, 24 homes were sold in Washington; 83% of homes were sold within 30 days, 17% 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 6 Days Ago

Newest Listings in Washington, IL

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