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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Herscher is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Herscher was a Seller's Market.

Key Takeaway

Herscher is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Herscher, IL

How much do homes in Herscher, IL cost?

Median Sold Price

$225,000

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$62,500(+38.5%)

Key Takeaway

Homes in Herscher have sold for 38.5% more than they did a year ago.

Summary: The median home sold price in Herscher was $225,000 in November 2024, up 38.5% from last year, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $147.4K$180.5K
+22.4%
3 $179.9K$225K
+25.1%
4 $272.4K$229.4K
-15.8%
5+ -$198K
N/A

Summary: Herscher housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 25.1%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Herscher
+38.5%
Pilot Township
+37.4%

Housing Supply in Herscher, IL

How many homes are available in Herscher, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
78+14.3%

Summary: The Herscher real estate market had 8 homes for sale in November 2024, a 14.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 00
0.0%
3 68
+33.3%
4 10
-100.0%
5+ 00
0.0%

Summary: The Herscher 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
110.0%

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 Herscher, 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 Herscher in November 2024, the same as the previous 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 Herscher, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
6 Days21 Days+250.0%

Summary: Homes in Herscher had an average of 21 days on market in Nov 2024, up by 250% 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 Herscher are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1 homes were sold in Herscher; 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 22 Days Ago

Newest Listings in Herscher, IL

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