Is East Marion, 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, East Marion has remained a Seller's Market.
Key Takeaway
East Marion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Marion, IL
How much do homes in East Marion, IL cost?
Median Sold Price
$190,000
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Marion have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in East Marion was $190,000 in May 2024, up 6.7% from last year, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $24K | $55K | +129.2% |
| 2 Bedrooms | $74K | $75K | +1.4% |
| 3 Bedrooms | $185K | $189.9K | +2.7% |
| 4 Bedrooms | $279K | $260.5K | -6.6% |
| 5+ Bedrooms | $399.9K | $425K | +6.3% |
Summary: East Marion housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 129.2%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Marion | $150K | $180K | +20.0% |
| East Marion | $178K | $190K | +6.7% |
| West Marion | $157.7K | $165K | +4.6% |
Housing Supply in East Marion, IL
How many homes are available in East Marion, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 52 | +15.6% |
Summary: The East Marion real estate market had 52 homes for sale in May 2024, a 15.6% 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 28 | 34 | +21.4% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The East Marion 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 21.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Marion, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in East Marion in May 2024, up by 55.6% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for East Marion, IL
How long does it take to sell a home in East Marion, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 16 Days | +11.0% |
Summary: Homes in East Marion had an average of 16 days on market in May 2024, up by 11% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Marion are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in East Marion; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.