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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62471 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 62471 was a Seller's Market.

Key Takeaway

62471 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 62471, IL

How much do homes in 62471, IL cost?

Median Sold Price

$124,500

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,500(+31.1%)

Key Takeaway

Homes in 62471 have sold for 31.1% more than they did a year ago.

Summary: The median home sold price in 62471 was $124,500 in October 2024, up 31.1% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $20K-
N/A
2 $52.5K$72.4K
+38.0%
3 $135K$124K
-8.1%
4 $136K$174K
+27.9%
5+ $265.5K$345K
+29.9%

Summary: 62471 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 38%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 27.9%, and 5+ bedroom homes increased by 29.9%.

Housing Supply in 62471, IL

How many homes are available in 62471, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3436+5.9%

Summary: The 62471 real estate market had 36 homes for sale in October 2024, a 5.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 69
+50.0%
3 2120
-4.8%
4 55
0.0%
5+ 11
0.0%

Summary: The 62471 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 50%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

3 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. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 62471 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% 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

Oct 2023Oct 2024CHANGE
59 Days56 Days-5.2%

Summary: Homes in 62471 had an average of 56 days on market in Oct 2024, down by 5.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62471 has remained consistent over time.

Summary: During October 2024, 6 homes were sold in 62471; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% 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 62471, IL

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