November Real Estate Market Update for Antioch, IL: What It Means for Buyers and Sellers

November Real Estate Market Update for Antioch, IL: What It Means for Buyers and Sellers

Navigating the Real Estate Trends in Antioch

The November numbers for single-family homes in Antioch, IL, reveal a dynamic market with key indicators pointing to continued strong demand. Let’s break down the data and what it means for buyers and sellers in today’s market.

1. Months Supply of Inventory: 2.33

This metric measures how long it would take to sell all homes currently on the market at the current sales pace. A supply of 2.33 months reflects a seller’s market, though slightly more balanced than extremely tight markets.

For buyers: Competition remains high, so be prepared to act quickly and make strong offers.
For sellers: With limited inventory, you have the advantage. Properly priced homes are likely to sell quickly and attract serious buyers.

2. 12-Month Change in Inventory: +8.37%

The slight increase in inventory compared to last year indicates the market is shifting toward balance, though it remains favorable for sellers.

For buyers: More homes on the market mean you may have a bit more choice, but demand is still strong. Be ready to move when you find a home that fits your needs.
For sellers: While inventory has grown slightly, the market remains competitive. Ensuring your home is well-priced and presented will help you stand out.

3. Median Days on Market: 16

Homes in Antioch are selling quickly, with a median of just 16 days on the market. This underscores strong demand.

For buyers: Time is of the essence. Have your financing ready and be prepared to act quickly when you find the right home.
For sellers: The quick sales pace means you can expect offers relatively soon after listing, provided your home is marketed effectively.

4. List to Sold Price Percentage: 98.7%

Homes in Antioch are selling for nearly 99% of their listing price, reflecting strong buyer competition and limited room for negotiation.

For buyers: Expect to offer close to the asking price, especially for well-priced properties in desirable locations.
For sellers: Pricing your home accurately is key to attracting offers close to your asking price and ensuring a smooth sale.

5. Median Sold Price: $350,000

The median sold price in Antioch gives buyers and sellers a snapshot of the market’s pricing trends.

For buyers: Use this as a benchmark when budgeting and comparing homes in the area.
For sellers: This median price reflects continued buyer interest and strong demand, making it a great time to list your home.

Key Takeaways for Buyers and Sellers

Antioch’s November market remains active and competitive, with low inventory and high demand driving quick sales and strong pricing.

• For buyers: Be prepared to act fast and make competitive offers, as the market is still in favor of sellers. Slightly increasing inventory may give you more options, but competition remains high.
• For sellers: The conditions are in your favor, with homes selling quickly and close to asking price. Listing now can help you capitalize on these market trends.

Working with an experienced local real estate professional is essential to navigating Antioch’s market, whether you’re buying or selling.