Is O'Fallon, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing O'Fallon is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in O'Fallon, IL

How much do homes in O'Fallon, IL cost?

Median Sold Price

$310,000

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$3,266(-1.0%)

Key Takeaway

Homes in O'Fallon have sold for 1% less than they did a year ago.

Summary: The median home sold price in O'Fallon was $310,000 in November 2024, down 1% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $62.6K$92K
+46.8%
2 $134K$137.5K
+2.6%
3 $238K$239.9K
+0.8%
4 $349.9K$365K
+4.3%
5+ $448.8K$468.5K
+4.4%

Summary: O'Fallon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.8%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 4.4%.

Median Sold Price Compared To Nearby Cities

Caseyville Township
+5.9%
Shiloh
+5.6%
O Fallon
+1.5%
O'Fallon Township
-0.6%
O'Fallon
-1.0%

Housing Supply in O'Fallon, IL

How many homes are available in O'Fallon, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
114109-4.4%

Summary: The O'Fallon real estate market had 109 homes for sale in November 2024, a 4.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1615
-6.3%
3 4137
-9.8%
4 4949
0.0%
5+ 77
0.0%

Summary: The O'Fallon 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 6.3%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3723-37.8%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in O'Fallon, expect to pay close to the asking price. 34.8% of homes here sold near the asking price last month.

Summary: A total of 23 homes were sold or pending in O'Fallon in November 2024, down by 37.8% month-over-month. Of the 23 sold homes, 30% were sold under asking, 35% were sold at asking, and 35% were sold over asking.

Days on Market for O'Fallon, IL

How long does it take to sell a home in O'Fallon, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
55 Days56 Days+2.1%

Summary: Homes in O'Fallon had an average of 56 days on market in Nov 2024, up by 2.1% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in O'Fallon has remained consistent over time.

Summary: During November 2024, 23 homes were sold in O'Fallon; 26% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 17% 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

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Newest Listings in O'Fallon, IL

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 12/01/2022 - 12/01/2024

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2024 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 10:23:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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