Is 62881, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62881 is a seller's market

Buyer's
Market

Difference Since December 2023

At the same time last year, 62881 was a Buyer's Market.

Key Takeaway

62881 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62881, IL

How much do homes in 62881, IL cost?

Median Sold Price

$143,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$18,000(+14.4%)

Key Takeaway

Homes in 62881 have sold for 14.4% more than they did a year ago.

Summary: The median home sold price in 62881 was $143,000 in December 2024, up 14.4% from last year, and the median price per square foot was $98.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $87.5K$115K
+31.4%
2 $71.5K$65K
-9.1%
3 $132.3K$164.7K
+24.5%
4 $192K$190K
-1.0%
5+ $220K$178.2K
-19.0%

Summary: 62881 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.4%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 24.5%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 19%.

Housing Supply in 62881, IL

How many homes are available in 62881, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
4845-6.3%

Summary: The 62881 real estate market had 45 homes for sale in December 2024, a 6.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 1312
-7.7%
3 2221
-4.5%
4 97
-22.2%
5+ 34
+33.3%

Summary: The 62881 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62881, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 62881 in December 2024, down by 18.2% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for 62881, IL

How long does it take to sell a home in 62881, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
55 Days29 Days-47.1%

Summary: Homes in 62881 had an average of 29 days on market in Dec 2024, down by 47.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

5 Homes Were 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 62881 has remained consistent over time.

Summary: During December 2024, 9 homes were sold in 62881; 44% of homes were sold within 30 days, 56% 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 8 Days Ago

Newest Listings in 62881, IL

Nearby Markets to 62881, IL