Is New City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New City is a buyer's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in New City, IL

How much do homes in New City, IL cost?

Median Sold Price

$249,700

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$19,749(+8.6%)

Key Takeaway

Homes in New City have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in New City was $249,700 in December 2024, up 8.6% from last year, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $203.2K$161K
-20.8%
2 $214.2K$213K
-0.6%
3 $245K$240K
-2.0%
4 $200.5K$230K
+14.7%
5+ $240K$285K
+18.8%

Summary: New City housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.8%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 18.8%.

Median Sold Price Compared To Nearby Neighborhoods

McKinley Park
+15.3%
Fuller Park
+11.6%
New City
+8.6%
Bridgeport
+1.1%
Canaryville
-7.5%

Housing Supply in New City, IL

How many homes are available in New City, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
90100+11.1%

Summary: The New City real estate market had 100 homes for sale in December 2024, a 11.1% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 35
+66.7%
2 69
+50.0%
3 2024
+20.0%
4 2022
+10.0%
5+ 4140
-2.4%

Summary: The New City housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 2.4%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
14140.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New City, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in New City in December 2024, the same as the previous month. Of the 14 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.

Days on Market for New City, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
101 Days17 Days-82.5%

Summary: Homes in New City had an average of 17 days on market in Dec 2024, down by 82.5% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 14 homes were sold in New City; 79% of homes were sold within 30 days, 21% 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 6 Days Ago

Newest Listings in New City, IL

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