Is Granite City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Granite City is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Granite City, IL

How much do homes in Granite City, IL cost?

Median Sold Price

$124,572

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$7,572(+6.5%)

Key Takeaway

Homes in Granite City have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Granite City was $124,572 in November 2024, up 6.5% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $25K$15.2K
-39.0%
2 $84K$94.2K
+12.2%
3 $131.7K$148.7K
+12.9%
4 $160K$175.7K
+9.8%
5+ $118.5K$161.2K
+36.1%

Summary: Granite City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 36.1%.

Median Sold Price Compared To Nearby Cities

Pontoon Beach
+14.0%
Nameoki Township
+13.3%
Granite City
+6.5%
Granite City Township
+6.3%
Chouteau Township
+2.9%

Housing Supply in Granite City, IL

How many homes are available in Granite City, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
173183+5.8%

Summary: The Granite City real estate market had 183 homes for sale in November 2024, a 5.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 43
-25.0%
2 6065
+8.3%
3 8594
+10.6%
4 2220
-9.1%
5+ 21
-50.0%

Summary: The Granite City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 10.6%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4032-20.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer41%31%28%

Key Takeaway

If you're buying a home in Granite City, you may be able to get a good deal. 40.6% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Granite City in November 2024, down by 20.0% month-over-month. Of the 32 sold homes, 41% were sold under asking, 28% were sold at asking, and 31% were sold over asking.

Days on Market for Granite City, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days37 Days+40.9%

Summary: Homes in Granite City had an average of 37 days on market in Nov 2024, up by 40.9% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times53%41%6%

Key Takeaway

Avg time on Rocket Homes in Granite City has remained consistent over time.

Summary: During November 2024, 32 homes were sold in Granite City; 41% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 6% 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 17 Days Ago

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