Is 62305, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62305 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62305 has remained a Seller's Market.

Key Takeaway

62305 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62305, IL

How much do homes in 62305, IL cost?

Median Sold Price

$255,000

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+2.0%)

Key Takeaway

Homes in 62305 have sold for 2% more than they did a year ago.

Summary: The median home sold price in 62305 was $255,000 in October 2024, up 2% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $135K-
N/A
2 $182.5K$195.5K
+7.1%
3 $220K$222.4K
+1.1%
4 $352K$327.7K
-6.9%
5+ $475K$485K
+2.1%

Summary: 62305 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes increased by 2.1%.

Median Sold Price Compared To Nearby Zip Codes

62338
+2.4%
62305
+2.0%
62301
+2.0%

Housing Supply in 62305, IL

How many homes are available in 62305, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4143+4.9%

Summary: The 62305 real estate market had 43 homes for sale in October 2024, a 4.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 47
+75.0%
3 2021
+5.0%
4 89
+12.5%
5+ 96
-33.3%

Summary: The 62305 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 increased by 75%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
158-46.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62305, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 62305 in October 2024, down by 46.7% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.

Days on Market for 62305, IL

How long does it take to sell a home in 62305, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days30 Days-7.5%

Summary: Homes in 62305 had an average of 30 days on market in Oct 2024, down by 7.5% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62305 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 62305; 75% of homes were sold within 30 days, 13% 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 62305, IL

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