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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vermilion County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Vermilion County, IL

How much do homes in Vermilion County, IL cost?

Median Sold Price

$103,600

$70/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$8,612(+9.1%)

Key Takeaway

Homes in Vermilion County have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Vermilion County was $103,600 in November 2024, up 9.1% from last year, and the median price per square foot was $70.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $36K$36.7K
+1.9%
2 $69.9K$69.8K
-0.1%
3 $104.9K$115.5K
+10.0%
4 $150K$162.5K
+8.3%
5+ $167K$182K
+9.0%

Summary: Vermilion County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 9%.

Median Sold Price Compared To Nearby Counties

Vermillion County
+45.6%
Champaign County
+10.8%
Vermilion County
+9.1%

Housing Supply in Vermilion County, IL

How many homes are available in Vermilion County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
222210-5.4%

Summary: The Vermilion County real estate market had 210 homes for sale in November 2024, a 5.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 42
-50.0%
2 4338
-11.6%
3 120119
-0.8%
4 4543
-4.4%
5+ 108
-20.0%

Summary: The Vermilion County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4652+13.0%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Vermilion County, you may be able to get a good deal. 65.4% of homes here sold below asking price last month.

Summary: A total of 52 homes were sold or pending in Vermilion County in November 2024, up by 13.0% month-over-month. Of the 52 sold homes, 65% were sold under asking, 6% were sold at asking, and 29% were sold over asking.

Days on Market for Vermilion County, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
20 Days38 Days+87.6%

Summary: Homes in Vermilion County had an average of 38 days on market in Nov 2024, up by 87.6% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 52 homes were sold in Vermilion County; 62% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% 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 Vermilion County, IL

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