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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colchester is a neutral's market

Buyer's
Market

Difference Since Last Month

Since last month, Colchester has remained a Neutral Market.

Key Takeaway

Colchester is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Colchester, IL

How much do homes in Colchester, IL cost?

Median Sold Price

$86,500

$87/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$158,950(-64.8%)

Key Takeaway

Homes in Colchester have sold for 64.8% less than they did a month ago.

Summary: The median home sold price in Colchester was $86,500 in November 2024, down 64.8% from last month, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 -$74K
N/A
3 $290.9K$99K
-66.0%
4 --
N/A
5+ $200K-
N/A

Summary: Colchester housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 66%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Colchester
-64.8%
Colchester Township
-64.8%

Housing Supply in Colchester, IL

How many homes are available in Colchester, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1112+9.1%

Summary: The Colchester real estate market had 12 homes for sale in November 2024, a 9.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 13
+200.0%
3 87
-12.5%
4 12
+100.0%
5+ 10
-100.0%

Summary: The Colchester 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 increased by 200%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were 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 Colchester, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Colchester in November 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Colchester, IL

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

Average Sale Time

Oct 2024Nov 2024CHANGE
65 Days203 Days+209.9%

Summary: Homes in Colchester had an average of 203 days on market in Nov 2024, up by 209.9% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Colchester are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 2 homes were sold in Colchester; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 2 Days Ago

Newest Listings in Colchester, IL

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