Is 61071, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61071 is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61071 was a Seller's Market.

Key Takeaway

61071 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 61071, IL

How much do homes in 61071, IL cost?

Median Sold Price

$102,000

$91/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$4,250(+4.3%)

Key Takeaway

Homes in 61071 have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in 61071 was $102,000 in April 2024, up 4.3% from last year, and the median price per square foot was $91.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $53.5K$55K
+2.8%
2 $65.7K$72K
+9.5%
3 $121K$129.9K
+7.4%
4 $122.4K$129.9K
+6.1%
5+ $81K$179.6K
+121.8%

Summary: 61071 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 121.8%.

Median Sold Price Compared To Nearby Zip Codes

61071
+4.3%
61081
+3.9%

Housing Supply in 61071, IL

How many homes are available in 61071, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3533-5.7%

Summary: The 61071 real estate market had 33 homes for sale in April 2024, a 5.7% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 01
+100.0%
2 1515
0.0%
3 1615
-6.3%
4 31
-66.7%
5+ 11
0.0%

Summary: The 61071 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 remained the same, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
135-61.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61071, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 61071 in April 2024, down by 61.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for 61071, IL

How long does it take to sell a home in 61071, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
57 Days22 Days-60.6%

Summary: Homes in 61071 had an average of 22 days on market in Apr 2024, down by 60.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61071 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 5 homes were sold in 61071; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% 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 61071, IL

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