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 Last Month

Since last month, Fayette County has remained a Seller's 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

$139,950

$60/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$50,050(-26.3%)

Key Takeaway

Homes in Fayette County have sold for 26.3% less than they did a month ago.

Summary: The median home sold price in Fayette County was $139,950 in October 2024, down 26.3% from last month, and the median price per square foot was $60.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $29.9K$57K
+90.3%
3 $215K$139.9K
-34.9%
4 $202.8K$195K
-3.8%
5+ $190K-
N/A

Summary: Fayette County housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 90.3%, 3 bedroom homes decreased by 34.9%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes did not change.

Housing Supply in Fayette County, IL

How many homes are available in Fayette County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4647+2.2%

Summary: The Fayette County real estate market had 47 homes for sale in October 2024, a 2.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 911
+22.2%
3 2727
0.0%
4 87
-12.5%
5+ 11
0.0%

Summary: The Fayette County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

5 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. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Fayette County in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% 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

Sep 2024Oct 2024CHANGE
91 Days93 Days+2.5%

Summary: Homes in Fayette County had an average of 93 days on market in Oct 2024, up by 2.5% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Fayette County has remained consistent over time.

Summary: During October 2024, 8 homes were sold in Fayette County; 13% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 25% 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 Fayette County, IL

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