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1431 W Vanmeter St. $334,900. 4 bd2 ba2,424 sqft. 7936 S Vernon Ave. View Illinois listings. Get pre-qualified for a loan. At Zillow Home Loans, we can pre-qualify you in as little as 3 minutes with no impact on your credit score. Start Now. An equal housing lender.
In September 2024, home prices in Illinois were up 6.9% compared to last year, selling for a median price of $291,600. On average, the number of homes sold was down 8.7% year over year and there were 11,037 homes sold in September this year, down 12,082 homes sold in September last year. The median days on the market was 46 days, up 3 year over ...
Sep 22, 2021 · According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Illinois is $239,408, lower than the national average. Across Illinois ...
- Current Illinois Housing Market Trends
- Illinois Housing Market Forecast 2025-2026
- Illinois Housing Market Predictions 2024
Key Takeaways
1. Home Sales Decline: In August 2024, home sales in Illinois plummeted by 6.5%year-over-year. 2. Rising Inventory: The inventory of homes for sale increased by 8.0%from last year. 3. Median Price Growth: Median home prices rose to $295,000, a 5.4%increase from August 2023. 4. Diverse Regional Trends: Certain regions like Rockford are projected to grow, while others such as Peoria may face price declines. The Illinois housing market's performance has varied significantly in 2024. As reported...
What’s Driving the Housing Market in Illinois?
Several factors landscape the current trajectory of the Illinois housing market: 1. Interest Rates: Interest rates significantly impact buying behavior. The current average commitment rate for a 30-year fixed mortgage decreased to 6.50% in August 2024, down from 6.84%in July. Even so, these rates remain above historical lows, and they discourage some prospective buyers from making a purchase. With expectations of potential cuts in Federal Reserve rates, buyers may start to gain more purchasin...
An in-depth examination of projected trends reveals distinctions in price trajectories across various areas: 1. Chicago, IL: Forecasts predict a slight decline of 0.3%by late 2025 (Zillow), mainly due to high inventory levels and economic fluctuations. 2. Rockford, IL: Expected to see a robust growth of 2.7%, driven by a strong buyer demand in the ...
The annual housing market forecast for Illinois for 2024 provides valuable insights into the upcoming months. These forecasts have been presented to Illinois Realtors® by the UIC Stuart Handler Department of Real Estate. The Illinois housing market is poised for a strong performance in 2024, with positive trends forecasted for both Illinois and the...
Aug 24, 2023 · CoreLogic’s ClosingCorp data shows that closing costs across Illinois average 2.1 percent of the home’s sale price. On a median-priced $287,900 home, that comes to about $6,046.
- Kacie Goff
May 17, 2024 · The average home buyer in Illinois spends between $23,074 and $77,325 when purchasing a $265,991 home — the state median value. Keep in mind, this is just the cost of buying a home. After you close, you'll still need to budget for all the ongoing costs of homeownership. Luckily, Clever Real Estate can help make buying a home more affordable.
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Jan 9, 2023 · Key Market Stats for the Illinois Housing Market: As of the latest compiled housing report with data through Sept 2022. Median price: $261,200 - up 2.2% from 2021. Existing home sales: 13,680 - down 19.1% from 2021. Median days on the market: 51, up 183% from 2021. Months supply of inventory: 3 up 0% 2021- no change.
