Is Zion, 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, Zion has remained a Seller's Market.
Housing Prices in Zion, IL
How much do homes in Zion, IL cost?
Median Sold Price
$218,200
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Zion was $218,200 in May 2024, up 17.9% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $92K | $80K | -13.0% |
2 Bedrooms | $130K | $164K | +26.2% |
3 Bedrooms | $180.7K | $220K | +21.7% |
4 Bedrooms | $221.5K | $257K | +16.0% |
5+ Bedrooms | $239.9K | $245K | +2.1% |
Summary: Zion housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 26.2%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Cities
Zion | $185K | $218.2K | +17.9% |
Zion Township | $185K | $218.2K | +17.9% |
Beach Park | $245K | $248K | +1.2% |
Winthrop Harbor | $264.9K | $265K | 0.0% |
Benton Township | $237K | $208K | -12.2% |
Housing Supply in Zion, IL
How many homes are available in Zion, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 72 | +28.6% |
Summary: The Zion real estate market had 72 homes for sale in May 2024, a 28.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 9 | 11 | +22.2% |
3 Bedrooms | 23 | 30 | +30.4% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 7 | 12 | +71.4% |
Summary: The Zion housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 71.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 18 | -5.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Zion in May 2024, down by 5.3% month-over-month. Of the 18 sold homes, 22% were sold under asking, 17% were sold at asking, and 61% were sold over asking.
Days on Market for Zion, IL
How long does it take to sell a home in Zion, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 31 Days | -21.9% |
Summary: Homes in Zion had an average of 31 days on market in May 2024, down by 21.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 18 homes were sold in Zion; 78% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.