Is Litchfield, 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, Litchfield has remained a Seller's Market.
Housing Prices in Litchfield, IL
How much do homes in Litchfield, IL cost?
Median Sold Price
$104,900
$82/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Litchfield was $104,900 in May 2024, down 0.1% from last year, and the median price per square foot was $82.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $47K | $175K | +272.3% |
2 Bedrooms | $83.7K | $84K | 0.3% |
3 Bedrooms | $124K | $124K | 0.0% |
4 Bedrooms | $183K | $245K | +33.9% |
5+ Bedrooms | $257K | $223.4K | -13.1% |
Summary: Litchfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 272.3%, 2 bedroom homes increased by 0.3%, 3 bedroom homes did not change, 4 bedroom homes increased by 33.9%, and 5+ bedroom homes decreased by 13.1%.
Median Sold Price Compared To Nearby Cities
Litchfield | $105K | $104.9K | -0.1% |
North Litchfield Township | $140K | $106K | -24.3% |
Housing Supply in Litchfield, IL
How many homes are available in Litchfield, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 31 | -3.1% |
Summary: The Litchfield real estate market had 31 homes for sale in May 2024, a 3.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 13 | 10 | -23.1% |
4 Bedrooms | 8 | 8 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Litchfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Litchfield in May 2024, up by 42.9% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Litchfield, IL
How long does it take to sell a home in Litchfield, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
58 Days | 59 Days | +2.6% |
Summary: Homes in Litchfield had an average of 59 days on market in May 2024, up by 2.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Litchfield; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.