Is 62216, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62216 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62216 has remained a Seller's Market.

Key Takeaway

62216 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62216, IL

How much do homes in 62216, IL cost?

Median Sold Price

$230,462

$120/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$26,537(-10.3%)

Key Takeaway

Homes in 62216 have sold for 10.3% less than they did a year ago.

Summary: The median home sold price in 62216 was $230,462 in October 2024, down 10.3% from last year, and the median price per square foot was $120.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $152K$210K
+38.2%
3 $257K$220K
-14.4%
4 $292.4K$310K
+6.0%
5+ -$616.5K
N/A

Summary: 62216 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 38.2%, 3 bedroom homes decreased by 14.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

62249
+9.5%
62230
-8.0%
62216
-10.3%

Housing Supply in 62216, IL

How many homes are available in 62216, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
54-20.0%

Summary: The 62216 real estate market had 4 homes for sale in October 2024, a 20.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 00
0.0%
3 43
-25.0%
4 11
0.0%
5+ 00
0.0%

Summary: The 62216 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62216, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 62216 in October 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 62216, IL

How long does it take to sell a home in 62216, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
69 Days50 Days-27.2%

Summary: Homes in 62216 had an average of 50 days on market in Oct 2024, down by 27.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62216 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 62216; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 62216, IL

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