Is Effingham County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Effingham County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Effingham County, IL

How much do homes in Effingham County, IL cost?

Median Sold Price

$205,250

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$6,250(+3.1%)

Key Takeaway

Homes in Effingham County have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in Effingham County was $205,250 in November 2024, up 3.1% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $170K$78K
-54.1%
2 $117.7K$131K
+11.2%
3 $191K$200K
+4.7%
4 $280K$300K
+7.1%
5+ $425K$399.5K
-6.0%

Summary: Effingham County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.1%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 6%.

Median Sold Price Compared To Nearby Counties

Fayette County
+18.5%
Effingham County
+3.1%
Cumberland County
+1.6%
Jasper County
+0.9%
Clay County
-6.6%

Housing Supply in Effingham County, IL

How many homes are available in Effingham County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
113114+0.9%

Summary: The Effingham County real estate market had 114 homes for sale in November 2024, a 0.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 1111
0.0%
3 5557
+3.6%
4 2829
+3.6%
5+ 1817
-5.6%

Summary: The Effingham County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2122+4.8%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Effingham County, you may be able to get a good deal. 77.3% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Effingham County in November 2024, up by 4.8% month-over-month. Of the 22 sold homes, 77% were sold under asking, 14% were sold at asking, and 9% were sold over asking.

Days on Market for Effingham County, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
36 Days54 Days+50.6%

Summary: Homes in Effingham County had an average of 54 days on market in Nov 2024, up by 50.6% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 22 homes were sold in Effingham County; 64% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 18% 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 Effingham County, IL

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