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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Washington has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Washington, IL

How much do homes in Washington, IL cost?

Median Sold Price

$172,000

$113/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$118,000(-40.7%)

Key Takeaway

Homes in Washington have sold for 40.7% less than they did a month ago.

Summary: The median home sold price in Washington was $172,000 in November 2024, down 40.7% from last month, and the median price per square foot was $113.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $175K$117.5K
-32.9%
3 $210K$168K
-20.0%
4 $230K$195K
-15.2%
5+ $403.7K$335K
-17.0%

Summary: Washington housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.9%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes decreased by 17%.

Housing Supply in Washington, IL

How many homes are available in Washington, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
11089-19.1%

Summary: The Washington real estate market had 89 homes for sale in November 2024, a 19.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 1012
+20.0%
3 5749
-14.0%
4 2922
-24.1%
5+ 136
-53.8%

Summary: The Washington 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 20%, 3 bedroom homes decreased by 14%, 4 bedroom homes decreased by 24.1%, and 5+ bedroom homes decreased by 53.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3533-5.7%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in Washington in November 2024, down by 5.7% month-over-month. Of the 33 sold homes, 45% were sold under asking, 24% were sold at asking, and 30% were sold over asking.

Days on Market for Washington, IL

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

Average Sale Time

Oct 2024Nov 2024CHANGE
21 Days9 Days-57.2%

Summary: Homes in Washington had an average of 9 days on market in Nov 2024, down by 57.2% compared to last month.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 33 homes were sold in Washington; 91% of homes were sold within 30 days, 9% 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 21 Days Ago

Newest Listings in Washington, IL

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