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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Varna is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Varna, IL

How much do homes in Varna, IL cost?

Median Sold Price

$259,000

$144/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$9,000(+3.6%)

Key Takeaway

Homes in Varna have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Varna was $259,000 in December 2024, up 3.6% from last year, and the median price per square foot was $144.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$187K
N/A
2 $131.2K$136K
+3.6%
3 $255K$266K
+4.3%
4 $250K$317.5K
+27.0%
5+ $475K-
N/A

Summary: Varna housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 27%, and 5+ bedroom homes did not change.

Housing Supply in Varna, IL

How many homes are available in Varna, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
76-14.3%

Summary: The Varna real estate market had 6 homes for sale in December 2024, a 14.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 22
0.0%
3 43
-25.0%
4 00
0.0%
5+ 11
0.0%

Summary: The Varna housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Varna, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Varna in December 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Varna, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
61 Days45 Days-25.8%

Summary: Homes in Varna had an average of 45 days on market in Dec 2024, down by 25.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 2 homes were sold in Varna; 50% of homes were sold within 30 days, 50% 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 4 Days Ago

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