Is 61107, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61107 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61107 has remained a Seller's Market.

Key Takeaway

61107 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61107, IL

How much do homes in 61107, IL cost?

Median Sold Price

$192,333

$105/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$22,333(+13.1%)

Key Takeaway

Homes in 61107 have sold for 13.1% more than they did a year ago.

Summary: The median home sold price in 61107 was $192,333 in April 2024, up 13.1% from last year, and the median price per square foot was $105.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $116.9K$103K
-11.9%
2 $120.5K$150K
+24.5%
3 $165K$180K
+9.1%
4 $218.7K$223.7K
+2.3%
5+ $259.9K$262.5K
+1.0%

Summary: 61107 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.9%, 2 bedroom homes increased by 24.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Zip Codes

61104
+27.7%
61114
+13.9%
61107
+13.1%
61108
+11.7%
61111
+7.0%

Housing Supply in 61107, IL

How many homes are available in 61107, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
5461+13.0%

Summary: The 61107 real estate market had 61 homes for sale in April 2024, a 13.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 10
-100.0%
2 109
-10.0%
3 2129
+38.1%
4 1617
+6.3%
5+ 66
0.0%

Summary: The 61107 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 38.1%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1419+35.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61107, 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 61107 in April 2024, up by 35.7% month-over-month. Of the 19 sold homes, 53% were sold under asking, 11% were sold at asking, and 37% were sold over asking.

Days on Market for 61107, IL

How long does it take to sell a home in 61107, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
40 Days26 Days-36.0%

Summary: Homes in 61107 had an average of 26 days on market in Apr 2024, down by 36% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61107 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 19 homes were sold in 61107; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% 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 2 Days Ago

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