Is 61240, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 61240 has remained a Seller's Market.
Key Takeaway
61240 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 61240, IL
How much do homes in 61240, IL cost?
Median Sold Price
$238,000
$107/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 61240 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 61240 was $238,000 in April 2024, up 3.5% from last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $114.9K | $110.5K | -3.8% |
| 3 Bedrooms | $193.5K | $225K | +16.3% |
| 4 Bedrooms | $371.5K | $307.4K | -17.2% |
| 5+ Bedrooms | $309.5K | $410K | +32.5% |
Summary: 61240 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 16.3%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes increased by 32.5%.
Housing Supply in 61240, IL
How many homes are available in 61240, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Summary: The 61240 real estate market had 12 homes for sale in April 2024, a 20.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 61240 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 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 61240, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 61240 in April 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 61240, IL
How long does it take to sell a home in 61240, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 45 Days | -2.2% |
Summary: Homes in 61240 had an average of 45 days on market in Apr 2024, down by 2.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 61240 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 61240; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.