Is 61108, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61108 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61108 has remained a Seller's Market.

Key Takeaway

61108 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61108, IL

How much do homes in 61108, IL cost?

Median Sold Price

$162,000

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$17,000(+11.7%)

Key Takeaway

Homes in 61108 have sold for 11.7% more than they did a year ago.

Summary: The median home sold price in 61108 was $162,000 in April 2024, up 11.7% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $57.5K$96K
+67.0%
2 $131K$149K
+13.7%
3 $142.3K$160K
+12.4%
4 $176K$175K
-0.6%
5+ $198.7K$299.5K
+50.7%

Summary: 61108 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 12.4%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 50.7%.

Median Sold Price Compared To Nearby Zip Codes

61104
+27.7%
61107
+13.1%
61108
+11.7%
61016
+6.0%

Housing Supply in 61108, IL

How many homes are available in 61108, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
5249-5.8%

Summary: The 61108 real estate market had 49 homes for sale in April 2024, a 5.8% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 1410
-28.6%
3 2931
+6.9%
4 87
-12.5%
5+ 00
0.0%

Summary: The 61108 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 decreased by 28.6%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2219-13.6%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61108, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in 61108 in April 2024, down by 13.6% month-over-month. Of the 19 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% were sold over asking.

Days on Market for 61108, IL

How long does it take to sell a home in 61108, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
18 Days29 Days+57.7%

Summary: Homes in 61108 had an average of 29 days on market in Apr 2024, up by 57.7% compared to last year.

Breakdown of Home Sale Times

13 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 61108 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 19 homes were sold in 61108; 68% 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 7 Days Ago

Newest Listings in 61108, IL

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