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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette County is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Fayette County was a Buyer's Market.

Key Takeaway

Fayette County 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 Fayette County, IL

How much do homes in Fayette County, IL cost?

Median Sold Price

$115,000

$73/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$8,000(-6.5%)

Key Takeaway

Homes in Fayette County have sold for 6.5% less than they did a year ago.

Summary: The median home sold price in Fayette County was $115,000 in April 2024, down 6.5% from last year, and the median price per square foot was $73.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $20K-
N/A
2 $70.5K$59.2K
-16.0%
3 $124.6K$121K
-2.9%
4 $147K$155K
+5.4%
5+ $208K$210.2K
+1.1%

Summary: Fayette County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Counties

Montgomery County
+15.3%
Bond County
+6.7%
Fayette County
-6.5%

Housing Supply in Fayette County, IL

How many homes are available in Fayette County, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
30300.0%

Summary: The Fayette County real estate market had 30 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 57
+40.0%
3 1717
0.0%
4 65
-16.7%
5+ 21
-50.0%

Summary: The Fayette County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
65-16.7%

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 Fayette County, 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 Fayette County in April 2024, down by 16.7% 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 Fayette County, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
46 Days145 Days+212.0%

Summary: Homes in Fayette County had an average of 145 days on market in Apr 2024, up by 212% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Fayette County has remained consistent over time.

Summary: During April 2024, 5 homes were sold in Fayette County; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% 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 10 Days Ago

Newest Listings in Fayette County, IL

Nearby Markets to Fayette County, IL

What housing markets are near Fayette County, IL?