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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colchester is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Colchester has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Colchester, IL

How much do homes in Colchester, IL cost?

Median Sold Price

$81,450

$77/sqft

Based on all homes sold in December 2024.

Difference Since Last Month

-$5,050(-5.8%)

Key Takeaway

Homes in Colchester have sold for 5.8% less than they did a month ago.

Summary: The median home sold price in Colchester was $81,450 in December 2024, down 5.8% from last month, and the median price per square foot was $77.

Median Sold Price By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 --
N/A
2 $74K$32.9K
-55.5%
3 $99K$130K
+31.3%
4 --
N/A
5+ --
N/A

Summary: Colchester housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 55.5%, 3 bedroom homes increased by 31.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Colchester
-5.8%
Colchester Township
-5.8%

Housing Supply in Colchester, IL

How many homes are available in Colchester, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
11110.0%

Summary: The Colchester real estate market had 11 homes for sale in December 2024, the same as November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 66
0.0%
4 23
+50.0%
5+ 00
0.0%

Summary: The Colchester 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 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 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 December 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

Nov 2024Dec 2024CHANGE
203 Days18 Days-91.1%

Summary: Homes in Colchester had an average of 18 days on market in Dec 2024, down by 91.1% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 2 homes were sold in Colchester; 100% of homes were sold within 30 days, 0% 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 4 Days Ago

Newest Listings in Colchester, IL

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