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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wilmington is a seller's market

Buyer's
Market

Difference Since Last Month

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

Key Takeaway

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

Housing Prices in Wilmington, IL

How much do homes in Wilmington, IL cost?

Median Sold Price

$190,000

$186/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$36,500(+23.8%)

Key Takeaway

Homes in Wilmington have sold for 23.8% more than they did a month ago.

Summary: The median home sold price in Wilmington was $190,000 in October 2024, up 23.8% from last month, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $152K$161.5K
+6.3%
2 $149K$105.5K
-29.2%
3 $282.4K$170K
-39.8%
4 $155K$392.5K
+153.2%
5+ $420K$305K
-27.4%

Summary: Wilmington housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes decreased by 29.2%, 3 bedroom homes decreased by 39.8%, 4 bedroom homes increased by 153.2%, and 5+ bedroom homes decreased by 27.4%.

Housing Supply in Wilmington, IL

How many homes are available in Wilmington, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4143+4.9%

Summary: The Wilmington real estate market had 43 homes for sale in October 2024, a 4.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1112
+9.1%
2 88
0.0%
3 1417
+21.4%
4 54
-20.0%
5+ 32
-33.3%

Summary: The Wilmington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes remained the same, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1213+8.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were 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. 69.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Wilmington in October 2024, up by 8.3% month-over-month. Of the 13 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% 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

Sep 2024Oct 2024CHANGE
30 Days70 Days+136.2%

Summary: Homes in Wilmington had an average of 70 days on market in Oct 2024, up by 136.2% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 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 October 2024, 13 homes were sold in Wilmington; 38% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 38% 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 16 Days Ago

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