62301 ZIP Code Housing Market
$150,000median sale price
Quick answer: The median home sale price in ZIP code 62301 is $150,000, up 10.7% year-over-year. Homes sell in an average of 52 days with 96 active listings. The market is currently a buyer's market.
62301 market data
| Metric | Value |
|---|---|
| Median sale price | $150,000 |
| Median list price | $143,000 |
| Year-over-year price change | +10.7% |
| Average days on market | 52 days |
| Active inventory | 96 listings |
| Sale-to-list price ratio | 95.2% |
| Market condition | Buyer's market |
Source: Redfin · Updated weekly
The 62301 zip code, located in Sherrard, IL, is currently classified as a buyer's market. The median sale price stands at $150,000, representing a +10.7% change year over year. Homes in this area spend an average of 52 days on the market before going under contract. There are currently 96 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 62301 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
88
Last 12 weeks
Days on market
52
Average pace
Active listings
96
Sale-to-list
95.2%
Below asking
Market trends
Market analysis for 62301
The 62301 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a buyer's market, homes are selling at approximately 95.2% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 62301 have increased +10.7% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 62301 stands at $136,374, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,030 per month. This gives a price-to-rent ratio of approximately 11.0, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
30,746
Median income
$52,055/yr
Median age
38.5 years
Owner-occupied
5895.0%
College grads
2536.0%
Avg commute
13.32 min
Living in 62301
Zip code 62301 is home to approximately 30,746 residents. The median household income is $52,055 per year, which shapes the types of homes and amenities available in the area. With a median age of 38.5 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 5895.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 2536.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 13.32 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 62301.
Frequently asked questions about 62301
What is the median home price in 62301?
The current median sale price in 62301 is $150,000, based on recent Redfin transaction data. Prices have changed +10.7% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 62301 a buyer's or seller's market?
The 62301 zip code is currently classified as a buyer's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 62301?
Zip code 62301 has a population of approximately 30,746 residents. The median household income is $52,055 per year. About 5895.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 62301?
Properties Incorporated provides comprehensive data for 62301 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 62301 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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