Single-Family Homes
Tue May 30 2023
This week the median list price for Union, IL is $425,000 with the market action index hovering around 18. This is about the same as last month's market action index of 18. Inventory has increased to 4.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.
Median List Price | $425,000 | |
Median Price of New Listings | $450,000 | |
Per Square Foot | $241 | |
Average Days on Market | 18 | |
Median Days on Market | 14 | |
Price Decreased | 25% | |
Price Increased | 0% | |
Relisted | 0% | |
Inventory | 4 | |
Median Rent | ||
Market Action | 18 | |
Slight Buyer's Advantage |
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$825,000 | 2,500 | 5 - 10 acres | 4 | 2 | 103 | 0 | 0 | 14 |
$450,000 | 2,940 | 5 - 10 acres | 4 | 1.5 | 53 | 1 | 0 | 0 |
$400,000 | 900 | 5 - 10 acres | 2 | 1 | 83 | 0 | 0 | 14 |
$145,000 | 1,608 | - | 3 | 1.5 | 113 | 0 | 0 | 42 |