Is Marion County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion County is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Marion County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Marion County, IL

How much do homes in Marion County, IL cost?

Median Sold Price

$115,000

$81/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$950(-0.8%)

Key Takeaway

Homes in Marion County have sold for 0.8% less than they did a year ago.

Summary: The median home sold price in Marion County was $115,000 in November 2024, down 0.8% from last year, and the median price per square foot was $81.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $28K$134.6K
+380.7%
2 $70K$62.5K
-10.7%
3 $122.7K$135K
+10.0%
4 $164.7K$189.5K
+15.0%
5+ $249.9K$185K
-26.0%

Summary: Marion County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 380.7%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 26%.

Median Sold Price Compared To Nearby Counties

Fayette County
+18.5%
Clinton County
+2.6%
Jefferson County
-0.4%
Marion County
-0.8%
Clay County
-6.6%

Housing Supply in Marion County, IL

How many homes are available in Marion County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
153148-3.3%

Summary: The Marion County real estate market had 148 homes for sale in November 2024, a 3.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 4036
-10.0%
3 7173
+2.8%
4 3430
-11.8%
5+ 78
+14.3%

Summary: The Marion County 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 10%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3732-13.5%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion County, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Marion County in November 2024, down by 13.5% month-over-month. Of the 32 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.

Days on Market for Marion County, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
64 Days27 Days-57.0%

Summary: Homes in Marion County had an average of 27 days on market in Nov 2024, down by 57% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Marion County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 32 homes were sold in Marion County; 66% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% 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 24 Days Ago

Newest Listings in Marion County, IL

Nearby Markets to Marion County, IL

What housing markets are near Marion County, IL?