Is Litchfield, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Litchfield has remained a Seller's Market.
Key Takeaway
Litchfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Litchfield, IL
How much do homes in Litchfield, IL cost?
Median Sold Price
$120,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Litchfield have sold for 18.5% more than they did a year ago.
Summary: The median home sold price in Litchfield was $120,000 in April 2024, up 18.5% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47K | $175K | +272.3% |
| 2 Bedrooms | $83.7K | $83K | -0.9% |
| 3 Bedrooms | $109K | $130K | +19.3% |
| 4 Bedrooms | $182.5K | $265K | +45.2% |
| 5+ Bedrooms | $257K | $223.4K | -13.1% |
Summary: Litchfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 272.3%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 45.2%, and 5+ bedroom homes decreased by 13.1%.
Median Sold Price Compared To Nearby Cities
| Litchfield | $101.2K | $120K | +18.5% |
| North Litchfield Township | $130K | $137K | +5.4% |
| South Litchfield Township | $87.5K | $86K | -1.7% |
Housing Supply in Litchfield, IL
How many homes are available in Litchfield, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 33 | +13.8% |
Summary: The Litchfield real estate market had 33 homes for sale in April 2024, a 13.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Litchfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 27.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Litchfield, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Litchfield in April 2024, the same as the previous month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 85 Days | 59 Days | -30.7% |
Summary: Homes in Litchfield had an average of 59 days on market in Apr 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Litchfield has remained consistent over time.
Summary: During April 2024, 7 homes were sold in Litchfield; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.