Is Swansea, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Swansea has remained a Seller's Market.
Key Takeaway
Swansea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Swansea, IL
How much do homes in Swansea, IL cost?
Median Sold Price
$246,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Swansea have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Swansea was $246,000 in May 2024, up 3.7% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $29.5K | $52K | +76.3% |
| 2 Bedrooms | $127.5K | $133K | +4.3% |
| 3 Bedrooms | $225K | $230K | +2.2% |
| 4 Bedrooms | $305.6K | $316K | +3.4% |
| 5+ Bedrooms | $314K | $388K | +23.6% |
Summary: Swansea housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76.3%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 23.6%.
Median Sold Price Compared To Nearby Cities
| Belleville Township | $160K | $180.3K | +12.7% |
| Belleville | $160K | $180.3K | +12.7% |
| Fairview Heights | $179.9K | $200K | +11.1% |
| Saint Clair Township | $224.2K | $236.2K | +5.4% |
| Swansea | $237.1K | $246K | +3.7% |
Housing Supply in Swansea, IL
How many homes are available in Swansea, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 60 | +3.4% |
Summary: The Swansea real estate market had 60 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 25 | 25 | 0.0% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Swansea 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 9.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Swansea, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Swansea in May 2024, up by 5.6% month-over-month. Of the 19 sold homes, 26% were sold under asking, 21% were sold at asking, and 53% were sold over asking.
Days on Market for Swansea, IL
How long does it take to sell a home in Swansea, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 36 Days | -16.5% |
Summary: Homes in Swansea had an average of 36 days on market in May 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Swansea has remained consistent over time.
Summary: During May 2024, 19 homes were sold in Swansea; 32% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.