Is 62471, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62471 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 62471 has remained a Seller's Market.

Key Takeaway

62471 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62471, IL

How much do homes in 62471, IL cost?

Median Sold Price

$129,900

$93/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$26,900(+26.1%)

Key Takeaway

Homes in 62471 have sold for 26.1% more than they did a year ago.

Summary: The median home sold price in 62471 was $129,900 in November 2024, up 26.1% from last year, and the median price per square foot was $93.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $20K$47.5K
+137.5%
2 $58.5K$69.5K
+18.8%
3 $124.9K$129.9K
+4.0%
4 $138.5K$183K
+32.1%
5+ $265.5K$345K
+29.9%

Summary: 62471 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 137.5%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 32.1%, and 5+ bedroom homes increased by 29.9%.

Median Sold Price Compared To Nearby Zip Codes

62471
+26.1%
62262
-23.5%

Housing Supply in 62471, IL

How many homes are available in 62471, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4543-4.4%

Summary: The 62471 real estate market had 43 homes for sale in November 2024, a 4.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1315
+15.4%
3 2420
-16.7%
4 65
-16.7%
5+ 23
+50.0%

Summary: The 62471 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
810+25.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62471, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 62471 in November 2024, up by 25.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.

Days on Market for 62471, IL

How long does it take to sell a home in 62471, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
115 Days95 Days-16.6%

Summary: Homes in 62471 had an average of 95 days on market in Nov 2024, down by 16.6% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 62471 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 10 homes were sold in 62471; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% 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 22 Days Ago

Newest Listings in 62471, IL

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