Is 62650, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62650 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 62650 has remained a Seller's Market.

Key Takeaway

62650 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62650, IL

How much do homes in 62650, IL cost?

Median Sold Price

$132,583

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$416(-0.3%)

Key Takeaway

The sold price of homes in 62650 has remained the same since last year.

Summary: The median home sold price in 62650 was $132,583 in October 2024, down 0.3% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $45.7K$61.7K
+35.0%
2 $88.9K$99.4K
+11.9%
3 $144.9K$143K
-1.4%
4 $199.7K$195K
-2.4%
5+ $420K$212.5K
-49.4%

Summary: 62650 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35%, 2 bedroom homes increased by 11.9%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 49.4%.

Housing Supply in 62650, IL

How many homes are available in 62650, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9675-21.9%

Summary: The 62650 real estate market had 75 homes for sale in October 2024, a 21.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2117
-19.0%
3 3930
-23.1%
4 2520
-20.0%
5+ 96
-33.3%

Summary: The 62650 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 19%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3023-23.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62650, expect to pay close to the asking price. 47.8% of homes here sold near the asking price last month.

Summary: A total of 23 homes were sold or pending in 62650 in October 2024, down by 23.3% month-over-month. Of the 23 sold homes, 30% were sold under asking, 48% were sold at asking, and 22% were sold over asking.

Days on Market for 62650, IL

How long does it take to sell a home in 62650, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days18 Days-36.0%

Summary: Homes in 62650 had an average of 18 days on market in Oct 2024, down by 36% compared to last year.

Breakdown of Home Sale Times

18 Homes Were 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

Many homes in 62650 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 23 homes were sold in 62650; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% 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 20 Days Ago

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