Is Mercer County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mercer County has remained a Seller's Market.
Housing Prices in Mercer County, IL
How much do homes in Mercer County, IL cost?
Median Sold Price
$135,000
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mercer County was $135,000 in May 2024, up 13.4% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $29.7K | $32.3K | +8.7% |
2 Bedrooms | $78K | $85.2K | +9.3% |
3 Bedrooms | $129.9K | $145K | +11.6% |
4 Bedrooms | $174K | $214.9K | +23.5% |
5+ Bedrooms | $130K | $268.9K | +106.9% |
Summary: Mercer County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 106.9%.
Median Sold Price Compared To Nearby Counties
Mercer County | $119K | $135K | +13.4% |
Rock Island County | $136.5K | $147K | +7.7% |
Knox County | $98.6K | $105.5K | +7.0% |
Warren County | $92.5K | $75K | -18.9% |
Housing Supply in Mercer County, IL
How many homes are available in Mercer County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 59 | +5.4% |
Summary: The Mercer County real estate market had 59 homes for sale in May 2024, a 5.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 11 | 13 | +18.2% |
3 Bedrooms | 22 | 25 | +13.6% |
4 Bedrooms | 18 | 15 | -16.7% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Mercer County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 21 | +50.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Mercer County in May 2024, up by 50.0% month-over-month. Of the 21 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Mercer County, IL
How long does it take to sell a home in Mercer County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 26 Days | +110.1% |
Summary: Homes in Mercer County had an average of 26 days on market in May 2024, up by 110.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Mercer County; 76% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.