Is Wilmington, 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, Wilmington has remained a Seller's Market.
Housing Prices in Wilmington, IL
How much do homes in Wilmington, IL cost?
Median Sold Price
$186,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wilmington was $186,000 in May 2024, up 3.3% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103.2K | $118.5K | +14.8% |
2 Bedrooms | $156.2K | $168.9K | +8.1% |
3 Bedrooms | $220K | $231.5K | +5.2% |
4 Bedrooms | $376.5K | $242.5K | -35.6% |
5+ Bedrooms | $325K | $273.5K | -15.8% |
Summary: Wilmington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 35.6%, and 5+ bedroom homes decreased by 15.8%.
Median Sold Price Compared To Nearby Cities
Wilmington Township | $179.5K | $186K | +3.6% |
Wilmington | $180K | $186K | +3.3% |
Housing Supply in Wilmington, IL
How many homes are available in Wilmington, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
42 | 48 | +14.3% |
Summary: The Wilmington real estate market had 48 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 9 | 12 | +33.3% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 10 | 9 | -10.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Wilmington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Wilmington in May 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.
Days on Market for Wilmington, IL
How long does it take to sell a home in Wilmington, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 18 Days | -38.7% |
Summary: Homes in Wilmington had an average of 18 days on market in May 2024, down by 38.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Wilmington; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.