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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Zion is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$33,200(+17.9%)

Key Takeaway

Homes in Zion have sold for 17.9% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $92K$80K
-13.0%
2 $130K$164K
+26.2%
3 $180.7K$220K
+21.7%
4 $221.5K$257K
+16.0%
5+ $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
+17.9%
Zion Township
+17.9%
Beach Park
+1.2%
Winthrop Harbor
0.0%
Benton Township
-12.2%

Housing Supply in Zion, IL

How many homes are available in Zion, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5672+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

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 911
+22.2%
3 2330
+30.4%
4 1619
+18.8%
5+ 712
+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 2024May 2024CHANGE
1918-5.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Zion, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.

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 2023May 2024CHANGE
40 Days31 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

Newest Listings in Zion, IL

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