Is 62301, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62301 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 62301 has remained a Seller's Market.

Key Takeaway

62301 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 62301, IL

How much do homes in 62301, IL cost?

Median Sold Price

$134,800

$89/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$9,800(+7.8%)

Key Takeaway

Homes in 62301 have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in 62301 was $134,800 in May 2024, up 7.8% from last year, and the median price per square foot was $89.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $53.4K$80K
+49.8%
2 $109K$115K
+5.5%
3 $137.9K$140K
+1.5%
4 $165.2K$173.2K
+4.8%
5+ $224.1K$218.5K
-2.5%

Summary: 62301 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.8%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 2.5%.

Median Sold Price Compared To Nearby Zip Codes

62305
+18.2%
62301
+7.8%

Housing Supply in 62301, IL

How many homes are available in 62301, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
135131-3.0%

Summary: The 62301 real estate market had 131 homes for sale in May 2024, a 3.0% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 78
+14.3%
2 3638
+5.6%
3 5548
-12.7%
4 3129
-6.5%
5+ 68
+33.3%

Summary: The 62301 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 5.6%, 3 bedroom homes decreased by 12.7%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3335+6.1%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62301, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in 62301 in May 2024, up by 6.1% month-over-month. Of the 35 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for 62301, IL

How long does it take to sell a home in 62301, IL?

Average Sale Time

May 2023May 2024CHANGE
16 Days33 Days+101.1%

Summary: Homes in 62301 had an average of 33 days on market in May 2024, up by 101.1% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62301 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 35 homes were sold in 62301; 71% of homes were sold within 30 days, 9% 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 9 Days Ago

Newest Listings in 62301, IL

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