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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Eureka is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Eureka, IL

How much do homes in Eureka, IL cost?

Median Sold Price

$190,000

$94/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$42,122(+28.5%)

Key Takeaway

Homes in Eureka have sold for 28.5% more than they did a year ago.

Summary: The median home sold price in Eureka was $190,000 in May 2024, up 28.5% from last year, and the median price per square foot was $94.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$58K
N/A
2 $95K$141K
+48.4%
3 $136.7K$200K
+46.3%
4 $181K$216K
+19.3%
5+ $229.9K$235K
+2.2%

Summary: Eureka housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 48.4%, 3 bedroom homes increased by 46.3%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Cities

Eureka
+28.5%
Olio Township
+28.2%

Housing Supply in Eureka, IL

How many homes are available in Eureka, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
711+57.1%

Summary: The Eureka real estate market had 11 homes for sale in May 2024, a 57.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 47
+75.0%
4 23
+50.0%
5+ 10
-100.0%

Summary: The Eureka housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Eureka, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Eureka in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Eureka, IL

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

Average Sale Time

May 2023May 2024CHANGE
2 Days6 Days+200.0%

Summary: Homes in Eureka had an average of 6 days on market in May 2024, up by 200% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 2 homes were sold in Eureka; 100% of homes were sold within 30 days, 0% 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 1 Day Ago

Newest Listings in Eureka, IL

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