Is 62206, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62206 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62206 has remained a Seller's Market.

Key Takeaway

62206 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62206, IL

How much do homes in 62206, IL cost?

Median Sold Price

$46,750

$45/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,750(+3.9%)

Key Takeaway

Homes in 62206 have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in 62206 was $46,750 in October 2024, up 3.9% from last year, and the median price per square foot was $45.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $68K$19K
-72.1%
2 $30K$40K
+33.3%
3 $45K$45.5K
+1.1%
4 $56.8K$64.5K
+13.5%
5+ $35K$44.3K
+26.8%

Summary: 62206 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 72.1%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 26.8%.

Housing Supply in 62206, IL

How many homes are available in 62206, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5864+10.3%

Summary: The 62206 real estate market had 64 homes for sale in October 2024, a 10.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 1411
-21.4%
3 3844
+15.8%
4 37
+133.3%
5+ 10
-100.0%

Summary: The 62206 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 21.4%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 133.3%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
17170.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62206, expect to pay close to the asking price. 52.9% of homes here sold near the asking price last month.

Summary: A total of 17 homes were sold or pending in 62206 in October 2024, the same as the previous month. Of the 17 sold homes, 41% were sold under asking, 53% were sold at asking, and 6% were sold over asking.

Days on Market for 62206, IL

How long does it take to sell a home in 62206, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
46 Days26 Days-42.0%

Summary: Homes in 62206 had an average of 26 days on market in Oct 2024, down by 42% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62206 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 17 homes were sold in 62206; 65% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% 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 4 Days Ago

Newest Listings in 62206, IL

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