Is 62656, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62656 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 62656 has remained a Seller's Market.

Key Takeaway

62656 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62656, IL

How much do homes in 62656, IL cost?

Median Sold Price

$121,950

$89/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$21,450(+21.3%)

Key Takeaway

Homes in 62656 have sold for 21.3% more than they did a year ago.

Summary: The median home sold price in 62656 was $121,950 in November 2024, up 21.3% from last year, and the median price per square foot was $89.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $29K$30K
+3.4%
2 $75K$92.5K
+23.4%
3 $110.5K$132K
+19.4%
4 $167K$162.5K
-2.7%
5+ $170K$190K
+11.8%

Summary: 62656 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 19.4%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 11.8%.

Housing Supply in 62656, IL

How many homes are available in 62656, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8565-23.5%

Summary: The 62656 real estate market had 65 homes for sale in November 2024, a 23.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 2721
-22.2%
3 3525
-28.6%
4 1715
-11.8%
5+ 53
-40.0%

Summary: The 62656 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2824-14.3%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62656, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in 62656 in November 2024, down by 14.3% month-over-month. Of the 24 sold homes, 54% were sold under asking, 21% were sold at asking, and 25% were sold over asking.

Days on Market for 62656, IL

How long does it take to sell a home in 62656, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
19 Days39 Days+99.3%

Summary: Homes in 62656 had an average of 39 days on market in Nov 2024, up by 99.3% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62656 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 24 homes were sold in 62656; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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 21 Days Ago

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