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 seller's market

Buyer's
Market

Difference Since April 2023

Since last year, West Marion has remained a Seller's Market.

Key Takeaway

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

Housing Prices in West Marion, IL

How much do homes in West Marion, IL cost?

Median Sold Price

$164,000

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$4,050(+2.5%)

Key Takeaway

Homes in West Marion have sold for 2.5% more than they did a year ago.

Summary: The median home sold price in West Marion was $164,000 in April 2024, up 2.5% from last year, and the median price per square foot was $101.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $85K$184K
+116.5%
2 $79K$92K
+16.5%
3 $158.5K$160K
+0.9%
4 $223K$267.5K
+20.0%
5+ $350K$485K
+38.6%

Summary: West Marion housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 116.5%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 38.6%.

Median Sold Price Compared To Nearby Cities

Marion
+14.3%
Herrin
+14.1%
West Marion
+2.5%

Housing Supply in West Marion, IL

How many homes are available in West Marion, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
5147-7.8%

Summary: The West Marion real estate market had 47 homes for sale in April 2024, a 7.8% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1010
0.0%
3 2930
+3.4%
4 106
-40.0%
5+ 21
-50.0%

Summary: The West Marion 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 remained the same, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1511-26.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were 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. 63.6% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in West Marion in April 2024, down by 26.7% month-over-month. Of the 11 sold homes, 64% were sold under asking, 0% were sold at asking, and 36% 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

Apr 2023Apr 2024CHANGE
39 Days27 Days-29.4%

Summary: Homes in West Marion had an average of 27 days on market in Apr 2024, down by 29.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 April 2024, 11 homes were sold in West Marion; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 22 Days Ago

Newest Listings in West Marion, IL

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