Belleville’s real estate market remains hot, though one zip code saw home values fall
Median home values in a number of southwest Illinois zip codes increased by an average of 15.6% from June 2021 to June 2022, the most recent month for which data are available.
While some areas saw home values shoot up by 14% to 29%, one St. Clair County area had a sharp decline, according to the Zillow Home Value Index.
Zip code 62207, which includes parts of East St. Louis, Centreville and Alorton, had a decrease in median home value of 29.25%. The median home value in that area is currently at $36,770, the lowest of any of the 12 zip codes examined. It was the only area to see median home value decrease.
The greatest increase in median home value was in zip code 62239, which includes Dupo addresses. That area’s median home value increased by 29.33% to $124,082.
Belleville-area zip code 62220 had a median home value increase of 17.69% to $134,688. This area had a smaller increase than all but three zip codes, including 62207.
Note: This graphic will automatically update as new data become available.
Two O’Fallon areas had median home value increases around 18%. Zip code 62269 had a value increase of 17.71% to $282,952, the highest value of the 12 zip codes. The median value of neighboring 62208 homes went up by 18.2% to $165,235.
Swansea-area zip code 62223 had a median home value increase of 18.36% to $153,026, and the 62226 zip code’s value increased by 16.56% to $153,881.
Shiloh area 62221’s median home value is $217,683, and it increased by 18.7% over the last year.
Rocket Homes reports Belleville’s real estate market favors sellers, though home supply has seen a very slight increase from May to June. The real estate company said there were 228 Belleville homes for sale in May and 232 the following month.
There were 90 agent listings of single-family homes in the Belleville area as of Monday afternoon, with prices ranging from $17,000 to $850,000.
A typical Belleville home stays on the market for 43 days, according to Realtor.com. The site also said the area has a sellers’ market right now and put the median home list price at $149,900.
This story was originally published July 19, 2022 at 9:39 AM with the headline "Belleville’s real estate market remains hot, though one zip code saw home values fall."
