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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vermilion County is a seller's market

Buyer's
Market

Difference Since Last Month

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

Key Takeaway

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

Housing Prices in Vermilion County, IL

How much do homes in Vermilion County, IL cost?

Median Sold Price

$60,750

$43/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$25,250(-29.4%)

Key Takeaway

Homes in Vermilion County have sold for 29.4% less than they did a month ago.

Summary: The median home sold price in Vermilion County was $60,750 in May 2024, down 29.4% from last month, and the median price per square foot was $43.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $37.5K$126K
+236.0%
3 $167.2K$69.5K
-58.4%
4 $187.5K$42K
-77.6%
5+ -$48.2K
N/A

Summary: Vermilion County 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 increased by 236%, 3 bedroom homes decreased by 58.4%, 4 bedroom homes decreased by 77.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Vermilion County
-29.4%
Vermillion County
-45.0%

Housing Supply in Vermilion County, IL

How many homes are available in Vermilion County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5763+10.5%

Summary: The Vermilion County real estate market had 63 homes for sale in May 2024, a 10.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1112
+9.1%
3 3034
+13.3%
4 1010
0.0%
5+ 56
+20.0%

Summary: The Vermilion 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 increased by 9.1%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Vermilion County, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Vermilion County in May 2024, up by 7.7% month-over-month. Of the 14 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Vermilion County, IL

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

Average Sale Time

Apr 2024May 2024CHANGE
61 Days66 Days+8.9%

Summary: Homes in Vermilion County had an average of 66 days on market in May 2024, up by 8.9% compared to last month.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 14 homes were sold in Vermilion County; 43% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 21% 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

Newest Listings in Vermilion County, IL

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