62263 Housing Market Report February 2025•Washington County, Illinois

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Housing Prices in 62263, IL

How much do homes in 62263, IL cost?

Housing Market Conditions

Is 62263, IL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

62263 is a Buyer's Market

Difference Since February 2024

At the same time last year, 62263 was a Seller's Market.

Insight

62263 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$144,750$97/SqFt
-$40,250
-21.8%

Based on all homes sold in the last 12 months

Insight

Homes in 62263 have sold for 21.8% less than they did a year ago.

Summary: The median home sold price in 62263 was $144,750 in February 2025, down 21.8% from last year, and the median price per square foot was $97.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
62263
-21.8%
62271
-29.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$107K-
N/A
2$125K$109.9K
-12.0%
3$157K$165K
+5.1%
4$295K$240K
-18.6%
5$257.5K$402.7K
+56.4%

Summary: 62263 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -12.0%. The home price for 3 bedroom homes increased by +5.1%. The home price for 4 bedroom homes decreased by -18.6%. The home price for 5 bedroom homes increased by +56.4%.

Housing supply in 62263, IL

How many homes are available in 62263, IL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
28Last MonthFeb 2025
292 months agoJan 2025
-3.4 %
Change MoMJan – Feb

Summary: The 62263 real estate market had 28 homes for sale in Feb 2025, a 3.4 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
1Last MonthFeb 2025
22 months agoJan 2025
-50.0 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
242
-50.0%
31516
+6.7%
466
0.0%
544
0.0%

Summary: 62263 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes increased by +6.7%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 62263, IL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price0 Home

Under Asking Price1 Home

Insight

If you're buying a home in 62263, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 62263 in February 2025, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for 62263, IL

How long does it take to sell a home in 62263, IL?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days0 Home

Over 90 Days1 Home

Insight

Most homes in 62263 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2025, 1 homes were sold in 62263; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
161 DaysThis YearFeb 2025
118 Days1 year agoFeb 2024
+35.9 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in 62263 had an average listing age of 161 days in Feb 2025, up by 35.9% compared to the previous year.

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Newest Listings in 62263, IL

What homes are available in 62263, IL?

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System, and RMLS Alliance for the period 03/01/2023 - 03/01/2025

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2025 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 8:23:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of RMLS Alliance as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of RMLS Alliance®. Real estate listings held by brokerage firms other than this broker are marked with the RMLSA logo and detailed information about them includes the name of the listing brokers. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. Copyright © 2025 Peoria Area Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 8:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.