Is 62642, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62642 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 62642 has remained a Seller's Market.

Key Takeaway

62642 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62642, IL

How much do homes in 62642, IL cost?

Median Sold Price

$75,000

$70/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$20,000(-21.1%)

Key Takeaway

Homes in 62642 have sold for 21.1% less than they did a month ago.

Summary: The median home sold price in 62642 was $75,000 in October 2024, down 21.1% from last month, and the median price per square foot was $70.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $95K$37K
-61.1%
3 -$113K
N/A
4 --
N/A
5+ --
N/A

Summary: 62642 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 61.1%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 62642, IL

How many homes are available in 62642, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
550.0%

Summary: The 62642 real estate market had 5 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 23
+50.0%
4 00
0.0%
5+ 00
0.0%

Summary: The 62642 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 decreased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62642, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 62642 in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 62642, IL

How long does it take to sell a home in 62642, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
1 Day11 Days+1000.0%

Summary: Homes in 62642 had an average of 11 days on market in Oct 2024, up by 1000% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62642 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 62642; 100% of homes were sold within 30 days, 0% 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 22 Days Ago

Newest Listings in 62642, IL

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