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 20 Days Ago

Newest Listings in 62206, IL

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