Is 61101, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61101 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61101 has remained a Seller's Market.

Key Takeaway

61101 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61101, IL

How much do homes in 61101, IL cost?

Median Sold Price

$88,000

$72/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$13,050(+17.4%)

Key Takeaway

Homes in 61101 have sold for 17.4% more than they did a year ago.

Summary: The median home sold price in 61101 was $88,000 in April 2024, up 17.4% from last year, and the median price per square foot was $72.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $51.2K$67.5K
+31.7%
2 $55K$69.9K
+27.1%
3 $74.9K$89K
+18.7%
4 $111K$112.4K
+1.3%
5+ $119.9K$169.5K
+41.4%

Summary: 61101 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.7%, 2 bedroom homes increased by 27.1%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 41.4%.

Median Sold Price Compared To Nearby Zip Codes

61102
+50.0%
61101
+17.4%
61103
+11.1%
61072
+4.1%

Housing Supply in 61101, IL

How many homes are available in 61101, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2734+25.9%

Summary: The 61101 real estate market had 34 homes for sale in April 2024, a 25.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 01
+100.0%
2 510
+100.0%
3 1515
0.0%
4 78
+14.3%
5+ 00
0.0%

Summary: The 61101 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
117-36.4%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61101, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 61101 in April 2024, down by 36.4% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.

Days on Market for 61101, IL

How long does it take to sell a home in 61101, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
25 Days37 Days+44.8%

Summary: Homes in 61101 had an average of 37 days on market in Apr 2024, up by 44.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61101 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 7 homes were sold in 61101; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 5 Days Ago

Newest Listings in 61101, IL

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