Is 62522, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62522 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 62522 has remained a Seller's Market.

Key Takeaway

62522 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62522, IL

How much do homes in 62522, IL cost?

Median Sold Price

$102,000

$60/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$9,900(-8.8%)

Key Takeaway

Homes in 62522 have sold for 8.8% less than they did a year ago.

Summary: The median home sold price in 62522 was $102,000 in December 2024, down 8.8% from last year, and the median price per square foot was $60.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $215K$46.2K
-78.5%
2 $64.9K$49K
-24.5%
3 $119.9K$112K
-6.6%
4 $167.4K$146K
-12.8%
5+ $104.9K$91.2K
-13.1%

Summary: 62522 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 78.5%, 2 bedroom homes decreased by 24.5%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes decreased by 13.1%.

Median Sold Price Compared To Nearby Zip Codes

62526
+20.3%
62521
+13.3%
62522
-8.8%

Housing Supply in 62522, IL

How many homes are available in 62522, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
7260-16.7%

Summary: The 62522 real estate market had 60 homes for sale in December 2024, a 16.7% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 117
-36.4%
3 3927
-30.8%
4 1621
+31.3%
5+ 65
-16.7%

Summary: The 62522 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 36.4%, 3 bedroom homes decreased by 30.8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1916-15.8%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62522, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 16 homes were sold or pending in 62522 in December 2024, down by 15.8% month-over-month. Of the 16 sold homes, 31% were sold under asking, 50% were sold at asking, and 19% were sold over asking.

Days on Market for 62522, IL

How long does it take to sell a home in 62522, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
22 Days12 Days-46.8%

Summary: Homes in 62522 had an average of 12 days on market in Dec 2024, down by 46.8% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62522 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 16 homes were sold in 62522; 88% of homes were sold within 30 days, 6% 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 4 Days Ago

Newest Listings in 62522, IL

Nearby Markets to 62522, IL