Is 62685, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62685 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 62685 was a Seller's Market.

Key Takeaway

62685 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 62685, IL

How much do homes in 62685, IL cost?

Median Sold Price

$539,900

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$349,900(+184.2%)

Key Takeaway

Homes in 62685 have sold for 184.2% more than they did a year ago.

Summary: The median home sold price in 62685 was $539,900 in October 2024, up 184.2% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $157.5K$240K
+52.4%
3 $225.5K$340K
+50.8%
4 $230.5K$592.7K
+157.1%
5+ $35K$605K
+1628.6%

Summary: 62685 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 52.4%, 3 bedroom homes increased by 50.8%, 4 bedroom homes increased by 157.1%, and 5+ bedroom homes increased by 1628.6%.

Median Sold Price Compared To Nearby Zip Codes

62685
+184.2%
62033
+27.2%
62626
+18.2%
62014
+14.9%

Housing Supply in 62685, IL

How many homes are available in 62685, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
990.0%

Summary: The 62685 real estate market had 9 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 11
0.0%
3 43
-25.0%
4 34
+33.3%
5+ 00
0.0%

Summary: The 62685 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was 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 62685, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 62685 in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 62685, IL

How long does it take to sell a home in 62685, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
8 Days38 Days+334.3%

Summary: Homes in 62685 had an average of 38 days on market in Oct 2024, up by 334.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62685 has remained consistent over time.

Summary: During October 2024, 1 homes were sold in 62685; 0% of homes were sold within 30 days, 100% 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 21 Days Ago

Newest Listings in 62685, IL

Nearby Markets to 62685, IL