Is 62208, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62208 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62208 has remained a Seller's Market.

Key Takeaway

62208 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62208, IL

How much do homes in 62208, IL cost?

Median Sold Price

$198,250

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$3,250(+1.7%)

Key Takeaway

Homes in 62208 have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in 62208 was $198,250 in October 2024, up 1.7% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $37.5K$51K
+36.0%
2 $127K$142.5K
+12.2%
3 $191.2K$202.5K
+5.9%
4 $280K$313.5K
+12.0%
5+ $395K$415K
+5.1%

Summary: 62208 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 5.1%.

Median Sold Price Compared To Nearby Zip Codes

62232
+11.6%
62223
+9.4%
62226
+6.5%
62208
+1.7%

Housing Supply in 62208, IL

How many homes are available in 62208, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7584+12.0%

Summary: The 62208 real estate market had 84 homes for sale in October 2024, a 12.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 1622
+37.5%
3 4144
+7.3%
4 1412
-14.3%
5+ 24
+100.0%

Summary: The 62208 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 increased by 37.5%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1923+21.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62208, you could pay more than the asking price. 56.5% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in 62208 in October 2024, up by 21.1% month-over-month. Of the 23 sold homes, 22% were sold under asking, 22% were sold at asking, and 57% were sold over asking.

Days on Market for 62208, IL

How long does it take to sell a home in 62208, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
36 Days57 Days+58.5%

Summary: Homes in 62208 had an average of 57 days on market in Oct 2024, up by 58.5% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62208 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 23 homes were sold in 62208; 48% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 22% 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

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 11/01/2022 - 11/01/2024

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2024 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/5/2024, 9:23:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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