Is Shelby County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shelby County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Shelby County, IL

How much do homes in Shelby County, IL cost?

Median Sold Price

$125,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$9,000(-6.7%)

Key Takeaway

Homes in Shelby County have sold for 6.7% less than they did a year ago.

Summary: The median home sold price in Shelby County was $125,000 in November 2024, down 6.7% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $115K$78K
-32.2%
2 $93K$78.9K
-15.1%
3 $146.5K$143.9K
-1.8%
4 $176.2K$236K
+33.9%
5+ $159.9K$235K
+46.9%

Summary: Shelby County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.2%, 2 bedroom homes decreased by 15.1%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 33.9%, and 5+ bedroom homes increased by 46.9%.

Median Sold Price Compared To Nearby Counties

Christian County
+24.5%
Moultrie County
+19.8%
Fayette County
+18.5%
Effingham County
+3.1%
Shelby County
-6.7%

Housing Supply in Shelby County, IL

How many homes are available in Shelby County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5443-20.4%

Summary: The Shelby County real estate market had 43 homes for sale in November 2024, a 20.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 89
+12.5%
3 3325
-24.2%
4 109
-10.0%
5+ 20
-100.0%

Summary: The Shelby County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 24.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
188-55.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shelby County, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 8 homes were sold or pending in Shelby County in November 2024, down by 55.6% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Shelby County, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
25 Days36 Days+43.9%

Summary: Homes in Shelby County had an average of 36 days on market in Nov 2024, up by 43.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 8 homes were sold in Shelby County; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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 21 Days Ago

Newest Listings in Shelby County, IL

Nearby Markets to Shelby County, IL

What housing markets are near Shelby County, IL?