Is 61111, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61111 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61111 has remained a Seller's Market.

Key Takeaway

61111 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61111, IL

How much do homes in 61111, IL cost?

Median Sold Price

$165,000

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$5,109(-3.0%)

Key Takeaway

Homes in 61111 have sold for 3% less than they did a year ago.

Summary: The median home sold price in 61111 was $165,000 in March 2024, down 3% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $130K$65K
-50.0%
2 $137K$149.5K
+9.1%
3 $178.9K$173K
-3.3%
4 $249.9K$263K
+5.2%
5+ $348.1K$499.5K
+43.5%

Summary: 61111 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 43.5%.

Median Sold Price Compared To Nearby Zip Codes

61107
+15.2%
61114
+14.0%
61103
+6.5%
61115
+1.9%
61111
-3.0%

Housing Supply in 61111, IL

How many homes are available in 61111, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
36360.0%

Summary: The 61111 real estate market had 36 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 1512
-20.0%
3 1821
+16.7%
4 32
-33.3%
5+ 00
0.0%

Summary: The 61111 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
167-56.3%

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 61111, 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 61111 in March 2024, down by 56.3% month-over-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 61111, IL

How long does it take to sell a home in 61111, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
22 Days24 Days+9.4%

Summary: Homes in 61111 had an average of 24 days on market in Mar 2024, up by 9.4% compared to last year.

Breakdown of Home Sale Times

5 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 61111 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 7 homes were sold in 61111; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 30 Days Ago

Newest Listings in 61111, IL

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