$214 Closing Credit*
$18,000
650 SqFt
2 Beds
•1 Full Bath
Listing Office: Century 21 Reid Baugher Realty
Is Litchfield, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Litchfield has remained a Seller's Market.
Key Takeaway
Litchfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Litchfield, IL
How much do homes in Litchfield, IL cost?
Median Sold Price
$107,500
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,500(-8.1%)
Key Takeaway
Homes in Litchfield have sold for 8.1% less than they did a year ago.
Summary: The median home sold price in Litchfield was $107,500 in October 2024, down 8.1% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50.5K | $132.5K | +162.4% |
| 2 Bedrooms | $85K | $84K | -1.2% |
| 3 Bedrooms | $130K | $126.5K | -2.7% |
| 4 Bedrooms | $225K | $150K | -33.3% |
| 5+ Bedrooms | $223.4K | $275K | +23.1% |
Summary: Litchfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 162.4%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 23.1%.
Median Sold Price Compared To Nearby Cities
| South Litchfield Township | $86.5K | $84.5K | -2.3% |
| Litchfield | $117K | $107.5K | -8.1% |
| North Litchfield Township | $150K | $126.5K | -15.7% |
Housing Supply in Litchfield, IL
How many homes are available in Litchfield, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 35 | +16.7% |
Summary: The Litchfield real estate market had 35 homes for sale in October 2024, a 16.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 16 | 18 | +12.5% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Litchfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Litchfield, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Litchfield in October 2024, up by 100.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for Litchfield, IL
How long does it take to sell a home in Litchfield, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 68 Days | +52.7% |
Summary: Homes in Litchfield had an average of 68 days on market in Oct 2024, up by 52.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Litchfield are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Litchfield; 30% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.