Is 62301, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62301 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62301 has remained a Seller's Market.

Key Takeaway

62301 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62301, IL

How much do homes in 62301, IL cost?

Median Sold Price

$137,583

$90/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$2,683(+2.0%)

Key Takeaway

Homes in 62301 have sold for 2% more than they did a year ago.

Summary: The median home sold price in 62301 was $137,583 in October 2024, up 2% from last year, and the median price per square foot was $90.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $53.5K$82.5K
+54.2%
2 $109.5K$109K
-0.5%
3 $142.8K$150K
+5.0%
4 $171.2K$206K
+20.3%
5+ $214K$218.5K
+2.1%

Summary: 62301 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.2%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 2.1%.

Median Sold Price Compared To Nearby Zip Codes

62301
+2.0%
62305
+2.0%

Housing Supply in 62301, IL

How many homes are available in 62301, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
107123+15.0%

Summary: The 62301 real estate market had 123 homes for sale in October 2024, a 15.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 57
+40.0%
2 2734
+25.9%
3 5150
-2.0%
4 1826
+44.4%
5+ 66
0.0%

Summary: The 62301 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 25.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2634+30.8%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62301, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in 62301 in October 2024, up by 30.8% month-over-month. Of the 34 sold homes, 47% were sold under asking, 15% were sold at asking, and 38% were sold over asking.

Days on Market for 62301, IL

How long does it take to sell a home in 62301, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
43 Days26 Days-40.4%

Summary: Homes in 62301 had an average of 26 days on market in Oct 2024, down by 40.4% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62301 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 34 homes were sold in 62301; 74% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 62301, IL

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