Ever look at a market report and feel lost in the numbers? You are not alone. If you live in Decatur’s 62526 ZIP or anywhere across Central Illinois, those stats can actually tell you when to list, how to price, and what to expect when you negotiate. This guide breaks the metrics down in plain English and shows you how to read them with local context so you can make confident decisions. Let’s dive in.
Why market reports matter in 62526
A good market report helps you understand supply and demand right where you live. In 62526, you may see more swings month to month because the sample size is smaller than a county. That is normal. Pair ZIP-level data with county trends to get a clearer picture.
When you know what each metric means, you can time your move, set a smart price, and negotiate with confidence. The key is reading the numbers the same way every time and noting the geography and time period used.
Key metrics to know
Months of supply
Months of supply shows how long it would take to sell all active listings at the current sales pace. It is calculated as Active listings divided by Monthly closed sales. It signals market balance.
- Under 3 months = seller’s market (tight inventory, faster sales)
- About 3 to 6 months = balanced market
- Over 6 months = buyer’s market (more choice, more negotiation room)
Example for 62526 (illustrative): If there are 80 active listings and 20 closings per month, 80 ÷ 20 = 4 months of supply. That points to a roughly balanced market with a slight buyer tilt.
Days on market (DOM)
DOM is the time between listing and contract or closing, depending on the source. Median DOM is often better than average because it is less affected by outliers. Lower DOM (under 30 days) suggests brisk demand and possible multiple offers. Higher DOM (over 60 to 90 days) points to slower movement and more room to negotiate.
Local note: Some systems reset DOM when a listing is withdrawn and relisted. Others use cumulative DOM. Always check which definition your report uses.
List-to-sale ratio
The list-to-sale ratio is the sale price divided by list price, then multiplied by 100. It tells you how close sales are to asking prices.
- 100 percent or higher means homes often sell at or above list
- 95 to 99 percent means modest discounts
- Under 95 percent means buyers are getting larger reductions
Some reports compare the sale price to the original list price. Others compare to the final list price after reductions. Methodology matters.
Price trends: median, average, MoM, YoY
Median sale price is the midpoint and is less impacted by very high or low sales. Average price can be skewed by outliers. Month-over-month changes can be noisy, especially in smaller areas like a ZIP code. Year-over-year and 3- or 12-month rolling medians are better for spotting real trends.
If you see a year-over-year median price rise of about 4 percent paired with low months of supply, that often hints at growing competition. If prices look flat but months of supply is rising, expect buyers to gain leverage.
Active, pending, and new listings
Active listings are for sale. Pending means under contract. New listings show the flow of fresh inventory. If active listings hold steady while both new listings and pendings rise, demand is likely increasing and homes are turning over faster.
Sales volume and closed sales
Total closed sales tell you how many transactions are happening. In small areas, month-to-month counts swing a lot, so look at rolling 3- or 12-month totals for steadier insight.
Apply numbers in Decatur and Champaign
Choose the right geography
Use 62526 for hyperlocal guidance, like pricing and timing for a specific neighborhood or property type. Use Macon County or Champaign County to smooth out volatility and add context. Always label the geography and the date range used, such as a 12-month median.
Local reading examples
Here are illustrative examples to show how the math works:
- Months of supply
- 62526: 40 active listings and 12 monthly closings = about 3.3 months (near balanced)
- Champaign County: 260 active and 90 monthly closings = about 2.9 months (seller-leaning)
- DOM
- 62526 median DOM around 48 days suggests a moderate market
- Champaign County median DOM around 25 days suggests faster sales
- List-to-sale ratio
- 62526 at roughly 97 percent points to modest negotiation
- Champaign County at roughly 101 percent points to frequent over-list outcomes
- Median price trend
- 62526 around +1 percent year-over-year is basically flat
- Champaign County around +5 percent year-over-year shows moderate growth
These figures are examples to help you interpret. Get current numbers before you decide.
What explains differences
Champaign County often shows faster sales and tighter inventory due to university-driven demand and predictable seasonal cycles. Decatur’s demand reflects its industrial and agricultural employer base and different population patterns. Expect Champaign to show stronger spring activity related to the academic calendar.
Turn metrics into decisions
Timing your move
- Low months of supply and low DOM mean sellers can expect quicker sales. Buyers should be preapproved and ready to act.
- High months of supply and high DOM mean sellers should plan for a longer timeline. Buyers may get more time to inspect and negotiate.
- Seasonally, March through June is usually the busiest period in Central Illinois. Champaign’s academic schedule can amplify late spring and early summer activity.
Pricing strategy
- Low months of supply with a list-to-sale at or above 100 percent favors a competitive list price. Some sellers price slightly under market to spark multiple offers.
- Higher months of supply with list-to-sale well under 100 percent calls for conservative pricing and planning for concessions.
- Use comparable sales from the same neighborhood and similar home type and condition. County averages can mislead if the property mix is different.
Negotiation posture
- When months of supply and DOM rise, buyers gain leverage. Sellers should expect more requests for repairs or closing cost help.
- When DOM is low and list-to-sale is near or above 100 percent, sellers have the edge. Buyers may need escalation clauses, flexible closing dates, or stronger earnest money to compete.
- Watch appraisal risk in fast-moving markets. If prices are rising quickly, build a plan for potential appraisal gaps with your lender and agent.
Non-price terms to watch
In tight markets, sellers can often ask for shorter inspection periods and quicker closings. In slower markets, buyers may win more flexible timelines, seller-paid closing costs, or specific repairs.
Avoid common data traps
Geography and timeframe
ZIP codes, cities, and MLS areas rarely align perfectly. Always confirm the exact geography covered. Note whether numbers are monthly, 3-month rolling, or 12-month rolling, since each tells a different story.
Price basis and DOM method
Check whether you are looking at median or average prices. Confirm whether list-to-sale uses original list price or final list price. Ask whether DOM is cumulative or resets when relisted.
Mixed inventory and sample size
Know whether new construction, land, or multi-family are included, since those can change averages. Small sample sizes create big swings, so smooth with rolling medians or use county-level context.
Quick vetting checklist
- Does the report state the exact geography and date range?
- Is months of supply calculated as active listings divided by recent monthly closings? Over what period?
- Are prices median or average? Is the sale price compared to original or final list price?
- Is DOM cumulative or reset on relist?
- How many sales are in the sample that produced the median?
- Are new construction and distressed sales included or excluded?
- Are numbers seasonally adjusted or raw?
What to do next
If you are planning a move in 62526 or nearby, use these steps:
- Decide your timeframe and goals. Are you aiming for speed, price, or both?
- Pull current ZIP-level and county-level metrics for months of supply, DOM, list-to-sale, and median price. Use a rolling 3- or 12-month view.
- Review comparable sales for your specific neighborhood and home type. Note condition, size, and recent updates.
- Choose a pricing and negotiation plan that matches the market reality, not just a headline number.
When you want hyperlocal, up-to-the-week numbers and a strategy that fits your goals, connect with a local pro who works these neighborhoods every day. For clear pricing advice, on-the-ground negotiation help, and a step-by-step plan, reach out to Tracy Slater for a free consultation.
FAQs
How often should I check a market report in Decatur 62526?
- Review monthly for signals, then rely on 3- or 12-month rolling values when you are making decisions.
Which matters more in Central Illinois, DOM or months of supply?
- Use both. Months of supply shows overall balance of supply and demand, while DOM shows listing-level speed and how quickly buyers are acting.
What if DOM is high but prices are still rising in 62526?
- It can be a mix shift, with more higher-priced homes listed, or it can mean some price tiers are hot while others lag. Dig into price bands and property types.
Can I rely on ZIP-level data for my Decatur neighborhood?
- Yes for hyperlocal insight, but small samples are noisy. Pair ZIP data with county trends and neighborhood comps for a clearer read.
How does seasonality affect listings in Decatur and Champaign?
- Expect spring to be the busiest. In Champaign, the academic calendar adds predictable cycles that can concentrate activity in late spring and early summer.
