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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wilmington is a buyer's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Wilmington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Wilmington, IL

How much do homes in Wilmington, IL cost?

Median Sold Price

$193,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$17,000(+9.7%)

Key Takeaway

Homes in Wilmington have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Wilmington was $193,000 in November 2024, up 9.7% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $112K$127K
+13.4%
2 $162K$175K
+8.0%
3 $231.2K$225K
-2.7%
4 $260K$255K
-1.9%
5+ $273.5K$282.7K
+3.4%

Summary: Wilmington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 8%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Cities

Wilmington
+9.7%
Wilmington Township
+9.7%
Wesley Township
+8.9%

Housing Supply in Wilmington, IL

How many homes are available in Wilmington, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3845+18.4%

Summary: The Wilmington real estate market had 45 homes for sale in November 2024, a 18.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 910
+11.1%
2 513
+160.0%
3 1919
0.0%
4 33
0.0%
5+ 20
-100.0%

Summary: The Wilmington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 160%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
145-64.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wilmington, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Wilmington in November 2024, down by 64.3% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for Wilmington, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days11 Days-60.5%

Summary: Homes in Wilmington had an average of 11 days on market in Nov 2024, down by 60.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 5 homes were sold in Wilmington; 100% of homes were sold within 30 days, 0% 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 17 Days Ago

Newest Listings in Wilmington, IL

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