Is West Marion, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Marion is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, West Marion was a Seller's Market.

Key Takeaway

West Marion is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in West Marion, IL

How much do homes in West Marion, IL cost?

Median Sold Price

$164,500

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,100(+7.9%)

Key Takeaway

Homes in West Marion have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in West Marion was $164,500 in October 2024, up 7.9% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$184K
N/A
2 $80K$100K
+25.0%
3 $157.7K$171K
+8.4%
4 $225K$211.7K
-5.9%
5+ $485K$425K
-12.4%

Summary: West Marion housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 12.4%.

Median Sold Price Compared To Nearby Cities

Herrin
+23.1%
Marion
+12.6%
West Marion
+7.9%

Housing Supply in West Marion, IL

How many homes are available in West Marion, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5253+1.9%

Summary: The West Marion real estate market had 53 homes for sale in October 2024, a 1.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1716
-5.9%
3 2326
+13.0%
4 87
-12.5%
5+ 44
0.0%

Summary: The West Marion housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
138-38.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Marion, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in West Marion in October 2024, down by 38.5% month-over-month. Of the 8 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% were sold over asking.

Days on Market for West Marion, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
88 Days22 Days-74.7%

Summary: Homes in West Marion had an average of 22 days on market in Oct 2024, down by 74.7% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 8 homes were sold in West Marion; 75% of homes were sold within 30 days, 25% 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 20 Days Ago

Newest Listings in West Marion, IL

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