Is 61008, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61008 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61008 has remained a Seller's Market.

Key Takeaway

61008 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61008, IL

How much do homes in 61008, IL cost?

Median Sold Price

$227,666

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,000(+13.5%)

Key Takeaway

Homes in 61008 have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in 61008 was $227,666 in March 2024, up 13.5% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $275K$85K
-69.1%
2 $135K$145K
+7.4%
3 $195K$227.5K
+16.7%
4 $306K$299.9K
-2.0%
5+ $287.5K$310K
+7.8%

Summary: 61008 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 69.1%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 7.8%.

Median Sold Price Compared To Nearby Zip Codes

61114
+14.0%
61008
+13.5%
61065
+9.5%
61016
+6.9%

Housing Supply in 61008, IL

How many homes are available in 61008, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6260-3.2%

Summary: The 61008 real estate market had 60 homes for sale in March 2024, a 3.2% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 22
0.0%
3 3432
-5.9%
4 2121
0.0%
5+ 55
0.0%

Summary: The 61008 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1523+53.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61008, you could pay more than the asking price. 56.5% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in 61008 in March 2024, up by 53.3% month-over-month. Of the 23 sold homes, 22% were sold under asking, 22% were sold at asking, and 57% were sold over asking.

Days on Market for 61008, IL

How long does it take to sell a home in 61008, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
60 Days51 Days-15.2%

Summary: Homes in 61008 had an average of 51 days on market in Mar 2024, down by 15.2% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61008 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 23 homes were sold in 61008; 57% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in 61008, IL

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