Is 62557, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62557 is a neutral's market

Buyer's
Market

Difference Since December 2023

At the same time last year, 62557 was a Seller's Market.

Key Takeaway

62557 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 62557, IL

How much do homes in 62557, IL cost?

Median Sold Price

$100,000

$75/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$10,000(+11.1%)

Key Takeaway

Homes in 62557 have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in 62557 was $100,000 in December 2024, up 11.1% from last year, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$29K
N/A
2 $55.7K$81.9K
+47.0%
3 $114K$97.7K
-14.3%
4 $105K$189K
+80.0%
5+ $100K$130K
+30.0%

Summary: 62557 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 47%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 80%, and 5+ bedroom homes increased by 30%.

Median Sold Price Compared To Nearby Zip Codes

62075
+56.7%
62557
+11.1%

Housing Supply in 62557, IL

How many homes are available in 62557, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
2726-3.7%

Summary: The 62557 real estate market had 26 homes for sale in December 2024, a 3.7% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 99
0.0%
3 1414
0.0%
4 32
-33.3%
5+ 00
0.0%

Summary: The 62557 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
440.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62557, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 62557 in December 2024, the same as the previous month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 62557, IL

How long does it take to sell a home in 62557, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
32 Days32 Days+1.3%

Summary: Homes in 62557 had an average of 32 days on market in Dec 2024, up by 1.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62557 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 4 homes were sold in 62557; 50% of homes were sold within 30 days, 50% 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 6 Days Ago

Newest Listings in 62557, IL

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