Is 61114, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61114 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61114 has remained a Seller's Market.

Key Takeaway

61114 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61114, IL

How much do homes in 61114, IL cost?

Median Sold Price

$245,000

$111/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,000(+14.0%)

Key Takeaway

Homes in 61114 have sold for 14% more than they did a year ago.

Summary: The median home sold price in 61114 was $245,000 in March 2024, up 14% from last year, and the median price per square foot was $111.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $66K$85K
+28.8%
2 $135K$185K
+37.0%
3 $210K$217.7K
+3.7%
4 $248K$272.5K
+9.9%
5+ $424.7K$385K
-9.4%

Summary: 61114 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.8%, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes decreased by 9.4%.

Median Sold Price Compared To Nearby Zip Codes

61011
+29.6%
61107
+15.2%
61114
+14.0%
61008
+13.5%
61111
-3.0%

Housing Supply in 61114, IL

How many homes are available in 61114, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3134+9.7%

Summary: The 61114 real estate market had 34 homes for sale in March 2024, a 9.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 1917
-10.5%
4 1013
+30.0%
5+ 00
0.0%

Summary: The 61114 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
712+71.4%

Asking Price vs. Sold Price

7 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 61114, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 61114 in March 2024, up by 71.4% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.

Days on Market for 61114, IL

How long does it take to sell a home in 61114, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
28 Days22 Days-20.4%

Summary: Homes in 61114 had an average of 22 days on market in Mar 2024, down by 20.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61114 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 12 homes were sold in 61114; 67% of homes were sold within 30 days, 25% 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 19 Days Ago

Newest Listings in 61114, IL

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