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 March 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

$169,100

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$9,100(+5.7%)

Key Takeaway

Homes in West Marion have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in West Marion was $169,100 in March 2024, up 5.7% from last year, and the median price per square foot was $101.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $85K$184K
+116.5%
2 $73.5K$87.2K
+18.7%
3 $159K$169.5K
+6.6%
4 $228K$267.5K
+17.3%
5+ $315K$522.4K
+65.9%

Summary: West Marion housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 116.5%, 2 bedroom homes increased by 18.7%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 65.9%.

Median Sold Price Compared To Nearby Cities

Herrin
+21.3%
Marion
+12.9%
West Marion
+5.7%

Housing Supply in West Marion, IL

How many homes are available in West Marion, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
5550-9.1%

Summary: The West Marion real estate market had 50 homes for sale in March 2024, a 9.1% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 3526
-25.7%
4 810
+25.0%
5+ 12
+100.0%

Summary: The West Marion 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 increased by 9.1%, 3 bedroom homes decreased by 25.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1415+7.1%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in West Marion in March 2024, up by 7.1% month-over-month. Of the 15 sold homes, 67% were sold under asking, 20% were sold at asking, and 13% 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

Mar 2023Mar 2024CHANGE
37 Days28 Days-24.2%

Summary: Homes in West Marion had an average of 28 days on market in Mar 2024, down by 24.2% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 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 March 2024, 15 homes were sold in West Marion; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% 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 26 Days Ago

Newest Listings in West Marion, IL

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