Tue May 30 2023
This week the median list price for Marengo, IL is $433,325 with the market action index hovering around 51. This is an increase over last month's market action index of 48. Inventory has decreased to 12.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$433,325|
|Median Price of New Listings||$790,000|
|Per Square Foot||$166|
|Average Days on Market||77|
|Median Days on Market||42|
|Strong Seller's Market|
Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$900,000||4,122||10 - 20 acres||6||4.5||24||1||0||49|
|$479,900||3,000||1 - 2.5 acres||5||2.5||42||0||1||35|
|$384,310||2,436||0.5 - 1 acre||4||2.5||0||1||0||49|
|$359,000||2,930||0.25 - 0.5 acre||4||3||19||0||3||14|