Is 61072, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61072 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61072 has remained a Seller's Market.

Key Takeaway

61072 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61072, IL

How much do homes in 61072, IL cost?

Median Sold Price

$255,000

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$10,000(+4.1%)

Key Takeaway

Homes in 61072 have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in 61072 was $255,000 in April 2024, up 4.1% from last year, and the median price per square foot was $137.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$67.5K
N/A
2 $151K$180K
+19.2%
3 $235.5K$255K
+8.3%
4 $294.9K$296K
0.4%
5+ $387.5K$395K
+1.9%

Summary: 61072 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 19.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 1.9%.

Median Sold Price Compared To Nearby Zip Codes

61072
+4.1%
61073
-3.5%

Housing Supply in 61072, IL

How many homes are available in 61072, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
16160.0%

Summary: The 61072 real estate market had 16 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 01
+100.0%
3 1211
-8.3%
4 23
+50.0%
5+ 10
-100.0%

Summary: The 61072 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 increased by 100%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
49+125.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61072, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in 61072 in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for 61072, IL

How long does it take to sell a home in 61072, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
75 Days10 Days-86.6%

Summary: Homes in 61072 had an average of 10 days on market in Apr 2024, down by 86.6% compared to last year.

Breakdown of Home Sale Times

8 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 61072 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in 61072; 89% of homes were sold within 30 days, 11% 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 1 Day Ago

Newest Listings in 61072, IL

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