Is 61081, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61081 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61081 has remained a Seller's Market.

Key Takeaway

61081 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61081, IL

How much do homes in 61081, IL cost?

Median Sold Price

$119,235

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$5,235(+4.6%)

Key Takeaway

Homes in 61081 have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in 61081 was $119,235 in March 2024, up 4.6% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $44.4K$69K
+55.2%
2 $93K$82K
-11.8%
3 $119.9K$133K
+10.9%
4 $123.5K$147K
+19.0%
5+ $95.7K$146K
+52.5%

Summary: 61081 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 55.2%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 52.5%.

Median Sold Price Compared To Nearby Zip Codes

61081
+4.6%
61071
-3.8%

Housing Supply in 61081, IL

How many homes are available in 61081, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
5461+13.0%

Summary: The 61081 real estate market had 61 homes for sale in March 2024, a 13.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 23
+50.0%
2 1517
+13.3%
3 2527
+8.0%
4 1012
+20.0%
5+ 22
0.0%

Summary: The 61081 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
519+280.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61081, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in 61081 in March 2024, up by 280.0% month-over-month. Of the 19 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.

Days on Market for 61081, IL

How long does it take to sell a home in 61081, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
50 Days45 Days-9.7%

Summary: Homes in 61081 had an average of 45 days on market in Mar 2024, down by 9.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61081 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 19 homes were sold in 61081; 63% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 21% 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 61081, IL

Nearby Markets to 61081, IL