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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Metropolis is a buyer's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Metropolis, IL

How much do homes in Metropolis, IL cost?

Median Sold Price

$98,000

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$20,000(+25.6%)

Key Takeaway

Homes in Metropolis have sold for 25.6% more than they did a year ago.

Summary: The median home sold price in Metropolis was $98,000 in September 2024, up 25.6% from last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $37K$45K
+21.6%
2 $53K$70K
+32.1%
3 $87.5K$122.5K
+40.0%
4 $145K$128.7K
-11.2%
5+ -$305K
N/A

Summary: Metropolis housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 32.1%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 11.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Metropolis
+25.6%
Lincoln
+18.8%

Housing Supply in Metropolis, IL

How many homes are available in Metropolis, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4741-12.8%

Summary: The Metropolis real estate market had 41 homes for sale in September 2024, a 12.8% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 1210
-16.7%
3 1816
-11.1%
4 1513
-13.3%
5+ 00
0.0%

Summary: The Metropolis housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Metropolis, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Metropolis in September 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Metropolis, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
24 Days45 Days+82.7%

Summary: Homes in Metropolis had an average of 45 days on market in Sep 2024, up by 82.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 4 homes were sold in Metropolis; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 29 Days Ago

Newest Listings in Metropolis, IL

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