Is Zion, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Zion is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Zion, IL

How much do homes in Zion, IL cost?

Median Sold Price

$215,000

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$34,666(+19.2%)

Key Takeaway

Homes in Zion have sold for 19.2% more than they did a year ago.

Summary: The median home sold price in Zion was $215,000 in March 2024, up 19.2% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $84.7K$54K
-36.2%
2 $131.7K$160K
+21.5%
3 $175K$220K
+25.7%
4 $217.5K$250K
+14.9%
5+ $230K$243K
+5.7%

Summary: Zion housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.2%, 2 bedroom homes increased by 21.5%, 3 bedroom homes increased by 25.7%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 5.7%.

Median Sold Price Compared To Nearby Cities

Zion
+19.2%
Zion Township
+19.1%
Winthrop Harbor
+8.0%
Beach Park
0.2%
Benton Township
-11.0%

Housing Supply in Zion, IL

How many homes are available in Zion, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6563-3.1%

Summary: The Zion real estate market had 63 homes for sale in March 2024, a 3.1% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 109
-10.0%
3 2927
-6.9%
4 1618
+12.5%
5+ 98
-11.1%

Summary: The Zion 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 10%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1727+58.8%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Zion, you could pay more than the asking price. 59.3% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Zion in March 2024, up by 58.8% month-over-month. Of the 27 sold homes, 22% were sold under asking, 19% were sold at asking, and 59% were sold over asking.

Days on Market for Zion, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
62 Days26 Days-57.4%

Summary: Homes in Zion had an average of 26 days on market in Mar 2024, down by 57.4% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 27 homes were sold in Zion; 70% of homes were sold within 30 days, 22% 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 18 Days Ago

Newest Listings in Zion, IL

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