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 4 Days Ago

Newest Listings in 62642, IL

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