Is Marion, 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, Marion has remained a Seller's Market.
Housing Prices in Marion, IL
How much do homes in Marion, IL cost?
Median Sold Price
$177,183
$107/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Marion was $177,183 in April 2024, up 14.3% from last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $33K | $132K | +300.0% |
2 Bedrooms | $75K | $87.5K | +16.7% |
3 Bedrooms | $160.5K | $179.5K | +11.8% |
4 Bedrooms | $235K | $267.5K | +13.8% |
5+ Bedrooms | $412.9K | $400K | -3.1% |
Summary: Marion housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Cities
Marion | $155K | $177.1K | +14.3% |
East Marion | $183.9K | $189.9K | +3.3% |
West Marion | $159.9K | $164K | +2.5% |
Housing Supply in Marion, IL
How many homes are available in Marion, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
112 | 112 | 0.0% |
Summary: The Marion real estate market had 112 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 17 | 18 | +5.9% |
3 Bedrooms | 61 | 67 | +9.8% |
4 Bedrooms | 26 | 21 | -19.2% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Marion housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 9.8%, 4 bedroom homes decreased by 19.2%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 26 | +8.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Marion in April 2024, up by 8.3% month-over-month. Of the 26 sold homes, 65% were sold under asking, 12% were sold at asking, and 23% were sold over asking.
Days on Market for Marion, IL
How long does it take to sell a home in Marion, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
38 Days | 32 Days | -14.7% |
Summary: Homes in Marion had an average of 32 days on market in Apr 2024, down by 14.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 26 homes were sold in Marion; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.