Is 62275, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62275 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 62275 was a Neutral Market.

Key Takeaway

62275 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62275, IL

How much do homes in 62275, IL cost?

Median Sold Price

$215,000

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$24,900(-10.4%)

Key Takeaway

Homes in 62275 have sold for 10.4% less than they did a year ago.

Summary: The median home sold price in 62275 was $215,000 in October 2024, down 10.4% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $109K$35K
-67.9%
2 $73K$75K
+2.7%
3 $279.9K$215K
-23.2%
4 $285K$312.9K
+9.8%
5+ -$695K
N/A

Summary: 62275 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 67.9%, 2 bedroom homes increased by 2.7%, 3 bedroom homes decreased by 23.2%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

62249
+9.5%
62246
+8.5%
62275
-10.4%

Housing Supply in 62275, IL

How many homes are available in 62275, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
47+75.0%

Summary: The 62275 real estate market had 7 homes for sale in October 2024, a 75.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 35
+66.7%
4 01
+100.0%
5+ 00
0.0%

Summary: The 62275 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 increased by 66.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62275, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 62275 in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for 62275, IL

How long does it take to sell a home in 62275, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
70 Days38 Days-45.2%

Summary: Homes in 62275 had an average of 38 days on market in Oct 2024, down by 45.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62275 has remained consistent over time.

Summary: During October 2024, 3 homes were sold in 62275; 33% of homes were sold within 30 days, 67% 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 21 Days Ago

Newest Listings in 62275, IL

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