Is Herrin, 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, Herrin has remained a Seller's Market.
Key Takeaway
Herrin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Herrin, IL
How much do homes in Herrin, IL cost?
Median Sold Price
$115,500
$79/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Herrin have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Herrin was $115,500 in May 2024, up 16.7% from last year, and the median price per square foot was $79.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $36.7K | $28K | -23.8% |
| 2 Bedrooms | $67K | $65K | -3.0% |
| 3 Bedrooms | $114K | $138.5K | +21.5% |
| 4 Bedrooms | $226K | $289K | +27.9% |
| 5+ Bedrooms | $195.7K | $370K | +89.0% |
Summary: Herrin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.8%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 21.5%, 4 bedroom homes increased by 27.9%, and 5+ bedroom homes increased by 89%.
Median Sold Price Compared To Nearby Cities
| Herrin | $99K | $115.5K | +16.7% |
| Carterville | $182.5K | $187.4K | +2.7% |
| Blairsville | $125K | $119K | -4.8% |
Housing Supply in Herrin, IL
How many homes are available in Herrin, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 72 | +7.5% |
Summary: The Herrin real estate market had 72 homes for sale in May 2024, a 7.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 20 | -4.8% |
| 3 Bedrooms | 32 | 36 | +12.5% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Herrin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Herrin, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Herrin in May 2024, up by 35.7% month-over-month. Of the 19 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% were sold over asking.
Days on Market for Herrin, IL
How long does it take to sell a home in Herrin, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 52 Days | -11.8% |
Summary: Homes in Herrin had an average of 52 days on market in May 2024, down by 11.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Herrin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Herrin; 68% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.