Is 62234, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62234 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62234 has remained a Seller's Market.

Key Takeaway

62234 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62234, IL

How much do homes in 62234, IL cost?

Median Sold Price

$180,312

$114/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,312(+8.0%)

Key Takeaway

Homes in 62234 have sold for 8% more than they did a year ago.

Summary: The median home sold price in 62234 was $180,312 in October 2024, up 8% from last year, and the median price per square foot was $114.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $50.7K$63K
+24.1%
2 $120K$131.9K
+10.0%
3 $180K$199.4K
+10.8%
4 $250K$260K
+4.0%
5+ $275K$379.5K
+38.0%

Summary: 62234 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 38%.

Median Sold Price Compared To Nearby Zip Codes

62232
+11.6%
62034
+8.5%
62234
+8.0%
62294
0.0%
62062
-3.6%

Housing Supply in 62234, IL

How many homes are available in 62234, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
98980.0%

Summary: The 62234 real estate market had 98 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 2325
+8.7%
3 5848
-17.2%
4 1419
+35.7%
5+ 13
+200.0%

Summary: The 62234 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 8.7%, 3 bedroom homes decreased by 17.2%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3236+12.5%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62234, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in 62234 in October 2024, up by 12.5% month-over-month. Of the 36 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.

Days on Market for 62234, IL

How long does it take to sell a home in 62234, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days32 Days+23.8%

Summary: Homes in 62234 had an average of 32 days on market in Oct 2024, up by 23.8% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62234 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 36 homes were sold in 62234; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% 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 14 Days Ago

Real Estate Agent illustration

Local real estate agents are ready to help you find a home here.

Connect With An Agent
Real Estate Agent illustration

Sell your home with an expert or get the job done on your own.

Sell My Home
Real Estate Agent illustration

Get a customizable mortgage solution based on today's rates.

Get Approved

Newest Listings in 62234, IL

Nearby Markets to 62234, IL

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: 11/14/2024, 8:23:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Popular Cities with Homes for Sale in Illinois