Is 62906, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62906 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 62906 was a Seller's Market.

Key Takeaway

62906 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 62906, IL

How much do homes in 62906, IL cost?

Median Sold Price

$133,000

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$6,450(-4.6%)

Key Takeaway

Homes in 62906 have sold for 4.6% less than they did a year ago.

Summary: The median home sold price in 62906 was $133,000 in October 2024, down 4.6% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$185K
N/A
2 $78K$72.4K
-7.2%
3 $152K$154.5K
+1.6%
4 $215K$213K
-0.9%
5+ $360K$225K
-37.5%

Summary: 62906 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 decreased by 7.2%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes decreased by 37.5%.

Median Sold Price Compared To Nearby Zip Codes

62906
-4.6%
62952
-18.2%

Housing Supply in 62906, IL

How many homes are available in 62906, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3124-22.6%

Summary: The 62906 real estate market had 24 homes for sale in October 2024, a 22.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 79
+28.6%
3 1410
-28.6%
4 94
-55.6%
5+ 00
0.0%

Summary: The 62906 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 increased by 28.6%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 55.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
132-84.6%

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 62906, 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 62906 in October 2024, down by 84.6% 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 62906, IL

How long does it take to sell a home in 62906, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
34 Days109 Days+222.1%

Summary: Homes in 62906 had an average of 109 days on market in Oct 2024, up by 222.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62906 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 62906; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 24 Days Ago

Newest Listings in 62906, IL

Nearby Markets to 62906, IL