$3,266 Closing Credit*
$275,000
2,000 SqFt
3 Beds
•2 Full Baths
Valerie Bethel, Listing Office: Valerie Bethel, Designated Managing Broker
Is Marion, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Marion has remained a Seller's Market.
Key Takeaway
Marion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion, IL
How much do homes in Marion, IL cost?
Median Sold Price
$186,000
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,000(+12.7%)
Key Takeaway
Homes in Marion have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in Marion was $186,000 in November 2024, up 12.7% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $33K | $132K | +300.0% |
| 2 Bedrooms | $79.5K | $95.4K | +19.9% |
| 3 Bedrooms | $166K | $195K | +17.5% |
| 4 Bedrooms | $259.5K | $288.9K | +11.3% |
| 5+ Bedrooms | $425K | $480K | +12.9% |
Summary: Marion housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| East Marion | $174.9K | $215K | +22.9% |
| Marion | $165K | $186K | +12.7% |
| West Marion | $151.2K | $164.5K | +8.8% |
| Creal Springs | $259K | $242.5K | -6.4% |
Housing Supply in Marion, IL
How many homes are available in Marion, IL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 127 | +2.4% |
Summary: The Marion real estate market had 127 homes for sale in November 2024, a 2.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 25 | 21 | -16.0% |
| 3 Bedrooms | 58 | 63 | +8.6% |
| 4 Bedrooms | 33 | 34 | +3.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Marion 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 decreased by 16%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 30 | +15.4% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Marion in November 2024, up by 15.4% month-over-month. Of the 30 sold homes, 73% were sold under asking, 10% were sold at asking, and 17% were sold over asking.
Days on Market for Marion, IL
How long does it take to sell a home in Marion, IL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 32 Days | +63.1% |
Summary: Homes in Marion had an average of 32 days on market in Nov 2024, up by 63.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Marion are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 30 homes were sold in Marion; 63% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.