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 December 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

$183,000

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$18,000(+10.9%)

Key Takeaway

Homes in 62223 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 62223 was $183,000 in December 2024, up 10.9% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $26.1K$77K
+194.7%
2 $112K$143K
+27.7%
3 $165K$179.9K
+9.0%
4 $275K$260K
-5.5%
5+ $318.5K$323.5K
+1.6%

Summary: 62223 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 194.7%, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 9%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 1.6%.

Median Sold Price Compared To Nearby Zip Codes

62223
+10.9%
62226
+4.6%
62203
0.0%
62208
-0.3%

Housing Supply in 62223, IL

How many homes are available in 62223, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
9286-6.5%

Summary: The 62223 real estate market had 86 homes for sale in December 2024, a 6.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 2117
-19.0%
3 5351
-3.8%
4 1314
+7.7%
5+ 54
-20.0%

Summary: The 62223 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 19%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1826+44.4%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62223, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in 62223 in December 2024, up by 44.4% month-over-month. Of the 26 sold homes, 50% were sold under asking, 23% were sold at asking, and 27% 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

Dec 2023Dec 2024CHANGE
41 Days62 Days+51.3%

Summary: Homes in 62223 had an average of 62 days on market in Dec 2024, up by 51.3% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62223 has remained consistent over time.

Summary: During December 2024, 26 homes were sold in 62223; 27% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% 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 9 Days Ago

Newest Listings in 62223, IL

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