Is Centralia, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Centralia is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Centralia was a Seller's Market.

Key Takeaway

Centralia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Centralia, IL

How much do homes in Centralia, IL cost?

Median Sold Price

$97,500

$68/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$7,500(+8.3%)

Key Takeaway

Homes in Centralia have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Centralia was $97,500 in May 2024, up 8.3% from last year, and the median price per square foot was $68.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $17K$32.7K
+92.6%
2 $65K$67K
+3.1%
3 $115K$103K
-10.4%
4 $104.9K$134K
+27.7%
5+ $106K$230K
+117.0%

Summary: Centralia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 92.6%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 10.4%, 4 bedroom homes increased by 27.7%, and 5+ bedroom homes increased by 117%.

Median Sold Price Compared To Nearby Cities

Centralia
+9.8%
Centralia Township
+9.5%
Brookside Township
+8.9%
Centralia
+8.3%

Housing Supply in Centralia, IL

How many homes are available in Centralia, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5067+34.0%

Summary: The Centralia real estate market had 67 homes for sale in May 2024, a 34.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1320
+53.8%
3 2830
+7.1%
4 813
+62.5%
5+ 14
+300.0%

Summary: The Centralia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 53.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes increased by 300%.

Number of Homes Sold

Apr 2024May 2024CHANGE
89+12.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Centralia, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Centralia in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.

Days on Market for Centralia, IL

How long does it take to sell a home in Centralia, IL?

Average Sale Time

May 2023May 2024CHANGE
46 Days28 Days-39.4%

Summary: Homes in Centralia had an average of 28 days on market in May 2024, down by 39.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Centralia are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 9 homes were sold in Centralia; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 8 Days Ago

Newest Listings in Centralia, IL

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