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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette County is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Fayette County was a Neutral Market.

Key Takeaway

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

Housing Prices in Fayette County, IL

How much do homes in Fayette County, IL cost?

Median Sold Price

$125,000

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,477(+18.5%)

Key Takeaway

Homes in Fayette County have sold for 18.5% more than they did a year ago.

Summary: The median home sold price in Fayette County was $125,000 in November 2024, up 18.5% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $20K$41.7K
+108.7%
2 $57.7K$59K
+2.2%
3 $117.5K$133.5K
+13.6%
4 $170K$195K
+14.7%
5+ $265.5K$155K
-41.6%

Summary: Fayette County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 108.7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 41.6%.

Median Sold Price Compared To Nearby Counties

Bond County
+18.9%
Fayette County
+18.5%
Effingham County
+3.1%
Montgomery County
0.0%
Shelby County
-6.7%

Housing Supply in Fayette County, IL

How many homes are available in Fayette County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6665-1.5%

Summary: The Fayette County real estate market had 65 homes for sale in November 2024, a 1.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1622
+37.5%
3 3831
-18.4%
4 98
-11.1%
5+ 23
+50.0%

Summary: The Fayette County 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 37.5%, 3 bedroom homes decreased by 18.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1213+8.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette County, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Fayette County in November 2024, up by 8.3% month-over-month. Of the 13 sold homes, 77% were sold under asking, 15% were sold at asking, and 8% were sold over asking.

Days on Market for Fayette County, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
115 Days82 Days-28.0%

Summary: Homes in Fayette County had an average of 82 days on market in Nov 2024, down by 28% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 13 homes were sold in Fayette County; 23% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 46% 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 Fayette County, IL

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