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 October 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

$249,900

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,900(+13.6%)

Key Takeaway

Homes in New City have sold for 13.6% more than they did a year ago.

Summary: The median home sold price in New City was $249,900 in October 2024, up 13.6% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $200.7K$161K
-19.8%
2 $180K$213K
+18.3%
3 $207.5K$240K
+15.7%
4 $200K$240K
+20.0%
5+ $240K$277.5K
+15.6%

Summary: New City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.8%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 15.6%.

Median Sold Price Compared To Nearby Neighborhoods

Fuller Park
+41.5%
New City
+13.6%
McKinley Park
+12.5%
Bridgeport
+3.7%

Housing Supply in New City, IL

How many homes are available in New City, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7199+39.4%

Summary: The New City real estate market had 99 homes for sale in October 2024, a 39.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 37
+133.3%
2 66
0.0%
3 1421
+50.0%
4 1419
+35.7%
5+ 3446
+35.3%

Summary: The New City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes increased by 35.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New City, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in New City in October 2024, up by 75.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% 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

Oct 2023Oct 2024CHANGE
35 Days43 Days+21.8%

Summary: Homes in New City had an average of 43 days on market in Oct 2024, up by 21.8% compared to last year.

Breakdown of Home Sale Times

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

Summary: During October 2024, 7 homes were sold in New City; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 23 Days Ago

Newest Listings in New City, IL

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