Is 61109, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61109 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61109 has remained a Seller's Market.

Key Takeaway

61109 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61109, IL

How much do homes in 61109, IL cost?

Median Sold Price

$150,500

$111/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$9,500(-5.9%)

Key Takeaway

Homes in 61109 have sold for 5.9% less than they did a year ago.

Summary: The median home sold price in 61109 was $150,500 in April 2024, down 5.9% from last year, and the median price per square foot was $111.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $49.2K$188K
+281.7%
2 $66.4K$70K
+5.4%
3 $176.5K$172.5K
-2.3%
4 $183K$204K
+11.5%
5+ $340K$252.5K
-25.7%

Summary: 61109 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 281.7%, 2 bedroom homes increased by 5.4%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 25.7%.

Median Sold Price Compared To Nearby Zip Codes

61102
+50.0%
61104
+27.7%
61108
+11.7%
61016
+6.0%
61109
-5.9%

Housing Supply in 61109, IL

How many homes are available in 61109, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3740+8.1%

Summary: The 61109 real estate market had 40 homes for sale in April 2024, a 8.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 49
+125.0%
3 2419
-20.8%
4 710
+42.9%
5+ 22
0.0%

Summary: The 61109 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 increased by 125%, 3 bedroom homes decreased by 20.8%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
13130.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61109, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in 61109 in April 2024, the same as the previous month. Of the 13 sold homes, 15% were sold under asking, 31% were sold at asking, and 54% were sold over asking.

Days on Market for 61109, IL

How long does it take to sell a home in 61109, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
58 Days10 Days-82.4%

Summary: Homes in 61109 had an average of 10 days on market in Apr 2024, down by 82.4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61109 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 13 homes were sold in 61109; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 6 Days Ago

Newest Listings in 61109, IL

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