Is Fayette County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Fayette County was a Seller's Market.
Housing Prices in Fayette County, IL
How much do homes in Fayette County, IL cost?
Median Sold Price
$120,000
$75/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Fayette County was $120,000 in May 2024, up 7.6% from last year, and the median price per square foot was $75.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $20K | - | N/A |
2 Bedrooms | $72.5K | $55K | -24.1% |
3 Bedrooms | $124K | $121.5K | -2.0% |
4 Bedrooms | $145K | $155K | +6.9% |
5+ Bedrooms | $208K | $265.5K | +27.6% |
Summary: Fayette County 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 decreased by 24.1%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 27.6%.
Median Sold Price Compared To Nearby Counties
Fayette County | $111.5K | $120K | +7.6% |
Montgomery County | $91.5K | $97.5K | +6.6% |
Bond County | $142.5K | $145K | +1.8% |
Housing Supply in Fayette County, IL
How many homes are available in Fayette County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 37 | +15.6% |
Summary: The Fayette County real estate market had 37 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 | 7 | 7 | 0.0% |
3 Bedrooms | 17 | 21 | +23.5% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Fayette 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 remained the same, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Fayette County in May 2024, the same as the previous month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Fayette County, IL
How long does it take to sell a home in Fayette County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
97 Days | 115 Days | +17.8% |
Summary: Homes in Fayette County had an average of 115 days on market in May 2024, up by 17.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Fayette County; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.