Is Sangamon County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sangamon County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Sangamon County, IL

How much do homes in Sangamon County, IL cost?

Median Sold Price

$173,500

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,020(+6.8%)

Key Takeaway

Homes in Sangamon County have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Sangamon County was $173,500 in May 2024, up 6.8% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $47.9K$41.5K
-13.5%
2 $94.6K$104.5K
+10.5%
3 $165K$173.8K
+5.4%
4 $280K$270K
-3.6%
5+ $400K$440K
+10.0%

Summary: Sangamon County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.5%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Counties

Menard County
+10.0%
Christian County
+9.1%
Sangamon County
+6.8%
Logan County
-1.9%

Housing Supply in Sangamon County, IL

How many homes are available in Sangamon County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
668650-2.7%

Summary: The Sangamon County real estate market had 650 homes for sale in May 2024, a 2.7% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1010
0.0%
2 153145
-5.2%
3 320292
-8.8%
4 142151
+6.3%
5+ 4352
+20.9%

Summary: The Sangamon County 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 decreased by 5.2%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 20.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
194238+22.7%

Asking Price vs. Sold Price

95 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

106 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sangamon County, you could pay more than the asking price. 44.5% of homes here sold above asking price last month.

Summary: A total of 238 homes were sold or pending in Sangamon County in May 2024, up by 22.7% month-over-month. Of the 238 sold homes, 40% were sold under asking, 16% were sold at asking, and 45% were sold over asking.

Days on Market for Sangamon County, IL

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

Average Sale Time

May 2023May 2024CHANGE
18 Days17 Days-4.4%

Summary: Homes in Sangamon County had an average of 17 days on market in May 2024, down by 4.4% compared to last year.

Breakdown of Home Sale Times

203 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 238 homes were sold in Sangamon County; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% 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

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