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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colfax is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, Colfax has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Colfax, IL

How much do homes in Colfax, IL cost?

Median Sold Price

$154,900

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$42,150(+37.4%)

Key Takeaway

Homes in Colfax have sold for 37.4% more than they did a year ago.

Summary: The median home sold price in Colfax was $154,900 in December 2024, up 37.4% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $62.5K$108.7K
+73.9%
3 $112.7K$110K
-2.4%
4 -$225K
N/A
5+ $196K$295K
+50.5%

Summary: Colfax housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 73.9%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 50.5%.

Median Sold Price Compared To Nearby Cities

Colfax
+37.4%
Martin Township
+27.5%

Housing Supply in Colfax, IL

How many homes are available in Colfax, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
31-66.7%

Summary: The Colfax real estate market had 1 homes for sale in December 2024, a 66.7% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 00
0.0%
3 31
-66.7%
4 00
0.0%
5+ 00
0.0%

Summary: The Colfax 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 remained the same, 3 bedroom homes decreased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
21-50.0%

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 Colfax, 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 Colfax in December 2024, down by 50.0% month-over-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 Colfax, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
4 Days2 Days-55.6%

Summary: Homes in Colfax had an average of 2 days on market in Dec 2024, down by 55.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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 Colfax are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 1 homes were sold in Colfax; 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 6 Days Ago

Newest Listings in Colfax, IL

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