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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marseilles is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Marseilles, IL

How much do homes in Marseilles, IL cost?

Median Sold Price

$190,500

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$4,500(-2.3%)

Key Takeaway

Homes in Marseilles have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in Marseilles was $190,500 in November 2024, down 2.3% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $47K$62.5K
+33.0%
2 $120K$124K
+3.3%
3 $230.7K$221.5K
-4.0%
4 $243.5K$205K
-15.8%
5+ $100K$355K
+255.0%

Summary: Marseilles housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33%, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes increased by 255%.

Median Sold Price Compared To Nearby Cities

Rutland Township
+1.7%
Marseilles
-2.3%
Manlius Township
-16.3%

Housing Supply in Marseilles, IL

How many homes are available in Marseilles, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
26260.0%

Summary: The Marseilles real estate market had 26 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 84
-50.0%
3 913
+44.4%
4 66
0.0%
5+ 22
0.0%

Summary: The Marseilles 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 50%, 3 bedroom homes increased by 44.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
68+33.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marseilles, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Marseilles in November 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.

Days on Market for Marseilles, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
67 Days11 Days-83.0%

Summary: Homes in Marseilles had an average of 11 days on market in Nov 2024, down by 83% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 8 homes were sold in Marseilles; 88% of homes were sold within 30 days, 13% 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 17 Days Ago

Newest Listings in Marseilles, IL

Nearby Markets to Marseilles, IL

What housing markets are near Marseilles, IL?