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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Downs is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Downs has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Downs, IL

How much do homes in Downs, IL cost?

Median Sold Price

$226,500

$112/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$346,000(-60.4%)

Key Takeaway

Homes in Downs have sold for 60.4% less than they did a month ago.

Summary: The median home sold price in Downs was $226,500 in May 2024, down 60.4% from last month, and the median price per square foot was $112.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 --
N/A
3 $572.5K$175K
-69.4%
4 -$278K
N/A
5+ --
N/A

Summary: Downs housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 69.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Downs, IL

How many homes are available in Downs, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1117+54.5%

Summary: The Downs real estate market had 17 homes for sale in May 2024, a 54.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 811
+37.5%
4 33
0.0%
5+ 03
+100.0%

Summary: The Downs 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 remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downs, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Downs in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Downs, IL

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

Average Sale Time

Apr 2024May 2024CHANGE
78 Days2 Days-96.6%

Summary: Homes in Downs had an average of 2 days on market in May 2024, down by 96.6% compared to last month.

Breakdown of Home Sale Times

6 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 Downs are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 6 homes were sold in Downs; 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 10 Days Ago

Newest Listings in Downs, IL

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