Granite City IL Real Estate Market Report-2019

• 2019 Granite City Home Prices
• Previous Years
• Granite City Real Estate Market

2019 Granite City Home Prices

Previous Years

• 2016: $69,000
• 2017: $70,000
• 2018: $72,500
• 2019: $80,000

Chart of Sale Price, Median & Number of Sales 2016 – 2019

Granite City Real Estate Market

This is the average for residential homes sold in Granite City in 2019

Is it a Good Time To Sell Your House in Granite City?

It’s always a good time to sell in Granite City when you consider months when inventory is lower, which can entice more buyers.

We see the highest number of real estate listings taken in the months of February, October, and November. In winter, buyers generally are serious buyers. That said, in January, we see a closed price to original list price ratio drop by approximately 3%, indicating sellers dropping prices after the end of the prior year.

Early Spring is certainly the most popular time to buy and sell a house in Granite City.

In this 2019 chart, you can see the total number of listings per month in Granite City, indicating when sellers tend to put their homes on the market.

What is the Average Cost For a House in Granite City?

Dana Ficker,REALTOR, reports that a residential house located in the Granite City zip code of 62040 has a median sales price of $80,000.

Is the Granite City Real Estate Market Going to Crash in 2020?

Some real estate experts are predicting a potential housing market crash in 2020 due to politics and the potential of rising rates. NAR (National Association of Realtors) predicts the housing market in the Midwest will continue to be attractive. Mortgage loan interest rates are expected to stay below 4%.

Millennials, the largest generation in history, are predicted to take their top spot in mortgage origination while initiating more than 50% of all new mortgages. But, Realtor.com predicts a challenging year for buyers, not because of what they can afford, but rather what they can find.

Sellers with upper-end home prices are likely to sit on the market longer and may require additional incentives in order to attract buyers.

With that said, the end of 2019 saw stable home values and increasing home sales which is always a positive sign in the real estate market.

In Which Month in Granite City Does a House Sell The Fastest?

When we look at residential home sales, January sales were on the market for the highest number of days at 82, and November sales had the lowest average of days on the market at 34.

Is it a Buyer’s or Seller’s Market in Granite City?

At the end of 2019, Dana Ficker REALTOR reported that Granite City had 3.7 months of inventory in the real estate market, which would be called a seller’s market. The entire year was at a 3 to 4-month inventory pace. We consider 6 months of inventory a balanced market.

Are Home Values in Granite City Increasing?

The Granite City zip code area of 62040 is rising. In December 2016, the median home price for a residential home in 62040 was $67,500. In December 2019, the median sales price for a residential home in 62040 was $72,500.

Who Can I Call to Sell My House in Granite City?

Call Dana Ficker at 618-792-9484 to buy or sell a house in the Granite City area code of 62040.

Illinois Licensee:

Dana Ficker

Coldwell Banker Brown Realtors

2205 S. State Route 157

Edwardsville, IL 62025

618-792-9484