Home values up 7% in Belleville area, Zillow says. See the latest on local real estate
Homes in the St. Clair County area and nearby have had a median home value increase of just over 6% from February 2022 to February 2023, according to the latest data from the Zillow Home Value Index.
Out of the 32 zip codes for which data are included, 30 had median home value increases and two had small declines.
Zip code 63113 had a decrease of 0.51%, bringing the area’s median home value to $36,591. Zip code 63106 had a 2.51% decline, bringing the median value to $79,904.
Homes in zip code 62207 had the greatest increase in median home value with a 15.64% hike bringing the number to $21,565.
The average increase in median home value was 6.1% for the southwestern Illinois and St. Louis area zip codes, and the average home value for the area was $143,500.
Belleville area zip code 62220 had an increase of 7.18%, bringing the median home value to $115,910.
Explore median home values by zip code, with data from the Zillow Home Value Index:
Note: This graphic will automatically update as new data become available.
Home sales in St. Clair County
Typical St. Clair County homes are selling for $189,663, Rocket Homes reports, an 8.8% increase from February 2022 to February 2023.
Supply increased slightly in the county from January to February this year, with 655 homes for sale in January and 674 for sale in February.
Sales saw a very slight decrease from January to February, according to Rocket Homes. There were 163 homes sold in St. Clair County in January and 160 sold in February.
Buyers may be able to secure a home under list price — 44.4% of homes sold under asking in January, while 36% sold over list and 19% sold at asking price.
Many homes are staying on the market longer, as the average sale time increased from 43 days to 58 days from February 2022 to February 2023, according to Rocket Homes.
St. Louis real estate market update
Across the Mississippi River, sales are down while prices are up for single-family homes, townhouses and condominiums, according to the St. Louis Realtors Association’s February housing report.
Here’s what to know in St. Louis City and county:
Pending sales are down 13.8% from February 2022
Closed sales are down 18.2%
The median sale price is $251,300, up 4.7%
Home inventory is up 9.2%
Homes spend an average of 42 days on the market, compared to 30 days in 2022
Townhouses and condos
Pending sales are down 9.4% from February 2022
Closed sales are down 31.2%
The median sale price is $203,800, up 7.3%
Home inventory is down 9.1%
Homes spend an average of 38 days on the market, compared to 35 days in 2022