Is West Marion, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Marion is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in West Marion, IL

How much do homes in West Marion, IL cost?

Median Sold Price

$165,000

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$15,000(+10.0%)

Key Takeaway

Homes in West Marion have sold for 10% more than they did a year ago.

Summary: The median home sold price in West Marion was $165,000 in September 2024, up 10% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$184K
N/A
2 $79.7K$96.7K
+21.4%
3 $155K$171K
+10.3%
4 $233.5K$227.5K
-2.6%
5+ $400K$492.4K
+23.1%

Summary: West Marion 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 21.4%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 23.1%.

Median Sold Price Compared To Nearby Cities

Herrin
+20.1%
Marion
+19.4%
West Marion
+10.0%

Housing Supply in West Marion, IL

How many homes are available in West Marion, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5652-7.1%

Summary: The West Marion real estate market had 52 homes for sale in September 2024, a 7.1% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1817
-5.6%
3 2723
-14.8%
4 118
-27.3%
5+ 04
+100.0%

Summary: The West Marion 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 decreased by 5.6%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2113-38.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Marion, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in West Marion in September 2024, down by 38.1% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.

Days on Market for West Marion, IL

How long does it take to sell a home in West Marion, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
14 Days32 Days+123.3%

Summary: Homes in West Marion had an average of 32 days on market in Sep 2024, up by 123.3% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 13 homes were sold in West Marion; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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 30 Days Ago

Newest Listings in West Marion, IL

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