Is 62223, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62223 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62223 has remained a Seller's Market.

Key Takeaway

62223 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62223, IL

How much do homes in 62223, IL cost?

Median Sold Price

$175,000

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+9.4%)

Key Takeaway

Homes in 62223 have sold for 9.4% more than they did a year ago.

Summary: The median home sold price in 62223 was $175,000 in October 2024, up 9.4% from last year, and the median price per square foot was $101.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $20.7K$56K
+169.9%
2 $112.7K$142.7K
+26.6%
3 $161.4K$173.3K
+7.4%
4 $290K$235K
-19.0%
5+ $315K$400K
+27.0%

Summary: 62223 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 169.9%, 2 bedroom homes increased by 26.6%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes increased by 27%.

Median Sold Price Compared To Nearby Zip Codes

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

Housing Supply in 62223, IL

How many homes are available in 62223, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9088-2.2%

Summary: The 62223 real estate market had 88 homes for sale in October 2024, a 2.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 2018
-10.0%
3 4352
+20.9%
4 2011
-45.0%
5+ 67
+16.7%

Summary: The 62223 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 20.9%, 4 bedroom homes decreased by 45%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3015-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62223, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in 62223 in October 2024, down by 50.0% month-over-month. Of the 15 sold homes, 13% were sold under asking, 27% were sold at asking, and 60% were sold over asking.

Days on Market for 62223, IL

How long does it take to sell a home in 62223, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
29 Days46 Days+59.7%

Summary: Homes in 62223 had an average of 46 days on market in Oct 2024, up by 59.7% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62223 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 15 homes were sold in 62223; 47% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 13% 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 62223, IL

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