Is Sparta, 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, Sparta has remained a Buyer's Market.
Key Takeaway
Sparta is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sparta, IL
How much do homes in Sparta, IL cost?
Median Sold Price
$114,500
$60/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sparta have sold for 56.8% more than they did a year ago.
Summary: The median home sold price in Sparta was $114,500 in May 2024, up 56.8% from last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $44.2K | $69K | +55.9% |
| 3 Bedrooms | $94K | $97.8K | +4.1% |
| 4 Bedrooms | $67.3K | $258K | +282.9% |
| 5+ Bedrooms | - | $80K | N/A |
Summary: Sparta 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 increased by 55.9%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 282.9%, and 5+ bedroom homes did not change.
Housing Supply in Sparta, IL
How many homes are available in Sparta, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 35 | +9.4% |
Summary: The Sparta real estate market had 35 homes for sale in May 2024, a 9.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 18 | 22 | +22.2% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sparta 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 decreased by 28.6%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sparta, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Sparta in May 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Sparta, IL
How long does it take to sell a home in Sparta, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 56 Days | 70 Days | +24.3% |
Summary: Homes in Sparta had an average of 70 days on market in May 2024, up by 24.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sparta has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Sparta; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.