62881 Home Values & Market Trends
There are 19 homes currently listed for 62881. 62881 real estate market trends show that home prices range from $49,000 to $499,999, and the median sales price in the 62881 zip code is $122,462.79. The total number of properties sold within the past twelve months is 157. In 62881, 7 properties are in foreclosure, 1 are bank owned properties,and 2 are headed for auction.
62881 Real Estate Market Overview
| City | Median Est. Value |
|---|---|
| Salem | $ 127,357 $ 99/sqft |
Housing Market Summary for 62881
| Sep 2023 | August 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $122.5K | $160K | 30.61% |
| Median Sold Price | $114.5K | $111.4K | -2.66% |
| Homes For Sale | 14 | 19 | 35.71% |
| Homes Sold | 101 | 105 | 3.96% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in 62881
Browse Homes in 62881
The median list price of a home in Salem, is $122,462.79. A total of 19 properties are for sale, and the percentage of properties for sale in the zip code is 19.00%. The total count of 62881 properties is 3,752.
- Pre-ForeclosurePre-foreclosure homes account for 0.11% of all residential properties in 62881 with salem containing 4 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There is 1 cities within 62881; of that cities, the estimated home value for pre-foreclosure homes ranges from $144,834 in salem to the lowest home value of $31,134 in salem.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in 62881 ranges from the highest value of $86,316 in salem to the lowest value of $86,316 in salem. Bank owned homes and properties account for 0.03% of properties in 62881. There is 1 cities within 62881; salem containing 1 REO properties, has the highest number of bank owned properties in a single city.
- Auctionssalem has 2 auction properties, the highest number of properties going to auction in a single city in the state of 62881. Auction homes and other auction properties account for 0.05% of all properties in 62881. There is 1 cities within 62881; of that cities, the median estimated home value for homes going to auction ranges from $97,332 in salem to the lowest value of $57,457 in salem.
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Guide for 62881
In August 2024, Chicago saw a significant 19% decrease in pre-foreclosures from July, and a 42% drop year-over-year.
Springfield, IL’s real estate saw a peak value of $163K in Sep 2023 & a fall to $150K in Jan 2024. In Jun 2024, value was $145K. Neighboring cities show variable property values, with Sherman, IL at high end ($437K) and Dawson, IL at the lower end ($184K).
The Aurora, Illinois real estate market has shown steady growth, with average property values and prices per square foot increasing.
The Chicago real estate market is experiencing steady growth, with property values and the average sale price increasing. Despite the number of sales decreasing, the market remains active and healthy.
