Is 61061, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61061 is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61061 was a Buyer's Market.

Key Takeaway

61061 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 61061, IL

How much do homes in 61061, IL cost?

Median Sold Price

$197,500

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$25,000(+14.5%)

Key Takeaway

Homes in 61061 have sold for 14.5% more than they did a year ago.

Summary: The median home sold price in 61061 was $197,500 in April 2024, up 14.5% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$77K
N/A
2 $132.5K$167K
+26.0%
3 $181.4K$195K
+7.5%
4 $210K$237.5K
+13.1%
5+ $246.5K$420.7K
+70.7%

Summary: 61061 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 70.7%.

Housing Supply in 61061, IL

How many homes are available in 61061, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1418+28.6%

Summary: The 61061 real estate market had 18 homes for sale in April 2024, a 28.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 58
+60.0%
4 45
+25.0%
5+ 23
+50.0%

Summary: The 61061 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61061, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 61061 in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 61061, IL

How long does it take to sell a home in 61061, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
141 Days61 Days-56.7%

Summary: Homes in 61061 had an average of 61 days on market in Apr 2024, down by 56.7% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 61061 has remained consistent over time.

Summary: During April 2024, 3 homes were sold in 61061; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% 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 3 Days Ago

Newest Listings in 61061, IL

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