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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marseilles is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Marseilles has remained a Seller's Market.

Key Takeaway

Marseilles is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Marseilles, IL

How much do homes in Marseilles, IL cost?

Median Sold Price

$180,000

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$2,500(-1.4%)

Key Takeaway

Homes in Marseilles have sold for 1.4% less than they did a year ago.

Summary: The median home sold price in Marseilles was $180,000 in May 2024, down 1.4% from last year, and the median price per square foot was $130.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $173.5K-
N/A
2 $131.9K$119.9K
-9.1%
3 $200K$200K
0.0%
4 $214.9K$231K
+7.5%
5+ -$217.5K
N/A

Summary: Marseilles housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Seneca
+5.9%
Marseilles
-1.4%
Rutland Township
-4.7%
Manlius Township
-19.9%

Housing Supply in Marseilles, IL

How many homes are available in Marseilles, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2527+8.0%

Summary: The Marseilles real estate market had 27 homes for sale in May 2024, a 8.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 44
0.0%
3 1216
+33.3%
4 63
-50.0%
5+ 23
+50.0%

Summary: The Marseilles 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marseilles, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Marseilles in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.

Days on Market for Marseilles, IL

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

Average Sale Time

May 2023May 2024CHANGE
71 Days118 Days+64.7%

Summary: Homes in Marseilles had an average of 118 days on market in May 2024, up by 64.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 5 homes were sold in Marseilles; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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 9 Days Ago

Newest Listings in Marseilles, IL

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