Is 61102, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61102 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61102 has remained a Seller's Market.

Key Takeaway

61102 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61102, IL

How much do homes in 61102, IL cost?

Median Sold Price

$90,000

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$30,000(+50.0%)

Key Takeaway

Homes in 61102 have sold for 50% more than they did a year ago.

Summary: The median home sold price in 61102 was $90,000 in April 2024, up 50% from last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $28.4K$50K
+75.7%
2 $37K$98.2K
+165.5%
3 $80.1K$89.9K
+12.3%
4 $56.7K$235K
+314.1%
5+ $105.3K$80K
-24.0%

Summary: 61102 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 75.7%, 2 bedroom homes increased by 165.5%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 314.1%, and 5+ bedroom homes decreased by 24%.

Median Sold Price Compared To Nearby Zip Codes

61102
+50.0%
61104
+27.7%
61101
+17.4%
61109
-5.9%

Housing Supply in 61102, IL

How many homes are available in 61102, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2728+3.7%

Summary: The 61102 real estate market had 28 homes for sale in April 2024, a 3.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 65
-16.7%
3 1114
+27.3%
4 67
+16.7%
5+ 21
-50.0%

Summary: The 61102 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
770.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61102, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 61102 in April 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.

Days on Market for 61102, IL

How long does it take to sell a home in 61102, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
19 Days74 Days+282.9%

Summary: Homes in 61102 had an average of 74 days on market in Apr 2024, up by 282.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61102 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 7 homes were sold in 61102; 71% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% 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 17 Days Ago

Newest Listings in 61102, IL

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