McDonough County home prices fell 6.8% in October, with houses listed at a median of $74,950
The median home in McDonough County listed for $74,950 in October, down 6.8% from the previous month's $80,400, an analysis of data from Realtor.com shows.
Compared to October 2022, the median home list price increased 4.2% from $71,900.
The statistics in this article only pertain to houses listed for sale in McDonough County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.pjstar.com.
McDonough County's median home was 1,490 square feet, listed at $61 per square foot. The price per square foot of homes for sale is up 11.7% from October 2022.
Listings in McDonough County moved slowly, at a median 52 days listed compared to the October national median of 50 days on the market. In the previous month, homes had a median of 54 days on the market. Around 26 homes were newly listed on the market in October, a 7.1% decrease from 28 new listings in October 2022.
The median home prices issued by Realtor.com may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Across the Macomb metro area, median home prices fell to $74,975, down 0.1% from a month earlier. The median home had 1,480 square feet, at a list price of $61 per square foot.
In Illinois, median home prices were $316,950, a slight decrease from September. The median Illinois home listed for sale had 1,735 square feet, with a price of $177 per square foot.
Throughout the United States, the median home price was $425,000, a slight decrease from the month prior. The median American home for sale was listed at 1,876 square feet, with a price of $221 per square foot.
The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on The McDonough County Voice: McDonough County home prices fell 6.8% in October, with houses listed at a median of $74,950
