Is West Marion, 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, West Marion has remained a Seller's Market.
Housing Prices in West Marion, IL
How much do homes in West Marion, IL cost?
Median Sold Price
$165,000
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in West Marion was $165,000 in May 2024, up 4.6% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85K | $184K | +116.5% |
2 Bedrooms | $79.4K | $100K | +25.9% |
3 Bedrooms | $151.7K | $157.5K | +3.8% |
4 Bedrooms | $235K | $267.7K | +13.9% |
5+ Bedrooms | $375K | $559.9K | +49.3% |
Summary: West Marion housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 116.5%, 2 bedroom homes increased by 25.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 49.3%.
Housing Supply in West Marion, IL
How many homes are available in West Marion, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 50 | +8.7% |
Summary: The West Marion real estate market had 50 homes for sale in May 2024, a 8.7% 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 | 10 | 10 | 0.0% |
3 Bedrooms | 29 | 30 | +3.4% |
4 Bedrooms | 5 | 8 | +60.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The West Marion 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 remained the same, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in West Marion in May 2024, the same as the previous month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 25 Days | +103.8% |
Summary: Homes in West Marion had an average of 25 days on market in May 2024, up by 103.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in West Marion; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.