Is 61032, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61032 is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61032 was a Buyer's Market.

Key Takeaway

61032 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61032, IL

How much do homes in 61032, IL cost?

Median Sold Price

$99,500

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$10,500(-9.5%)

Key Takeaway

Homes in 61032 have sold for 9.5% less than they did a year ago.

Summary: The median home sold price in 61032 was $99,500 in April 2024, down 9.5% from last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $60K$58K
-3.3%
2 $78K$86K
+10.3%
3 $122K$120K
-1.6%
4 $157.9K$110K
-30.3%
5+ $120K$68.5K
-42.9%

Summary: 61032 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 30.3%, and 5+ bedroom homes decreased by 42.9%.

Housing Supply in 61032, IL

How many homes are available in 61032, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8084+5.0%

Summary: The 61032 real estate market had 84 homes for sale in April 2024, a 5.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 12
+100.0%
2 1314
+7.7%
3 3537
+5.7%
4 2525
0.0%
5+ 66
0.0%

Summary: The 61032 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1819+5.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61032, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in 61032 in April 2024, up by 5.6% month-over-month. Of the 19 sold homes, 47% were sold under asking, 16% were sold at asking, and 37% were sold over asking.

Days on Market for 61032, IL

How long does it take to sell a home in 61032, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
82 Days44 Days-46.2%

Summary: Homes in 61032 had an average of 44 days on market in Apr 2024, down by 46.2% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61032 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 19 homes were sold in 61032; 58% of homes were sold within 30 days, 16% 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 7 Days Ago

Newest Listings in 61032, IL

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