This St. Clair County zip code saw a median home value increase of 37.95% in one year
While typical homeowners in southwest Illinois and St. Louis have seen median home values increase by more than 10%, one St. Clair County zip code saw values soar by 37.95% over the last year.
Southwest Illinois and St. Louis-area homeowners have seen an average home value increase of 12.1% from September 2021 to this September, according to data from Zillow.
Out of the 34 zip codes for which data are available, two saw median home values decrease and the rest had value increases ranging from 0.26% to 37.95%.
Homes in zip code 62207 have a median value of $34,136, Zillow reports, a 26.73% value drop from September 2021. The other area to see home values decline was 63120, where homes have a median value of $29,820, down 8.87% from the same period last year.
Zip code 62240 had the greatest value increase from year-to-year, with a 37.95% median value increase bringing the area’s median home value to $96,391. The zip code with the second-greatest median value increase was 62201, where values increased by 32.48% to $45,389.
Homes in zip codes 63115, 63113, 62260, 62232 and 62239 all had median value increases of more than 20%.
Here is the latest map of percent change in median home value by zip code, from Zillow:
Note: This graphic will automatically update as new data become available.
The St. Louis housing market is “very competitive,” according to Redfin, which rates the market a 77 out of 100 on its competitiveness scale. Average homes go pending in about 13 days, and 44.6% of homes are sold above list price.
The median home sale price in St. Louis is $194,000, Redfin reports, a 1.3% increase year-to-year. Home sales have slowed though, with a 17.4% decrease in the number of homes sold since September 2021.
Belleville’s housing market has a 62 on Redfin’s competitiveness scale, putting it at a “somewhat competitive” level. Some homes get multiple offers, Redfin says, and average homes sell for about 1% over list in around 35 days.
Belleville is still a seller’s market, according to Rocket Homes. The price of one-bedroom homes has increased by 46% since last September, Rocket Homes reports, and the price of two-bedroom homes has increased by 18.8%.
