Is 61103, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61103 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61103 has remained a Seller's Market.

Key Takeaway

61103 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61103, IL

How much do homes in 61103, IL cost?

Median Sold Price

$120,000

$86/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$12,000(+11.1%)

Key Takeaway

Homes in 61103 have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in 61103 was $120,000 in April 2024, up 11.1% from last year, and the median price per square foot was $86.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $135K$35K
-74.1%
2 $82K$110K
+34.1%
3 $110K$120K
+9.1%
4 $130K$139K
+6.9%
5+ $123.2K$146.7K
+19.1%

Summary: 61103 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 74.1%, 2 bedroom homes increased by 34.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 19.1%.

Median Sold Price Compared To Nearby Zip Codes

61101
+17.4%
61107
+13.1%
61103
+11.1%
61111
+7.0%
61115
+3.6%

Housing Supply in 61103, IL

How many homes are available in 61103, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4146+12.2%

Summary: The 61103 real estate market had 46 homes for sale in April 2024, a 12.2% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 77
0.0%
3 2224
+9.1%
4 87
-12.5%
5+ 48
+100.0%

Summary: The 61103 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 remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1312-7.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61103, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in 61103 in April 2024, down by 7.7% month-over-month. Of the 12 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.

Days on Market for 61103, IL

How long does it take to sell a home in 61103, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
30 Days33 Days+11.3%

Summary: Homes in 61103 had an average of 33 days on market in Apr 2024, up by 11.3% compared to last year.

Breakdown of Home Sale Times

10 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 61103 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 12 homes were sold in 61103; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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 4 Days Ago

Newest Listings in 61103, IL

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