Is 61250, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61250 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 61250 has remained a Seller's Market.

Key Takeaway

61250 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61250, IL

How much do homes in 61250, IL cost?

Median Sold Price

$150,000

$116/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$11,750(-7.3%)

Key Takeaway

Homes in 61250 have sold for 7.3% less than they did a month ago.

Summary: The median home sold price in 61250 was $150,000 in May 2024, down 7.3% from last month, and the median price per square foot was $116.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 --
N/A
3 $153.5K$150K
-2.3%
4 $170K-
N/A
5+ --
N/A

Summary: 61250 housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 2.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 61250, IL

How many homes are available in 61250, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1011+10.0%

Summary: The 61250 real estate market had 11 homes for sale in May 2024, a 10.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 97
-22.2%
4 13
+200.0%
5+ 00
0.0%

Summary: The 61250 housing inventory by bedroom type for May 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 22.2%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61250, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 61250 in May 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 61250, IL

How long does it take to sell a home in 61250, IL?

Average Sale Time

Apr 2024May 2024CHANGE
58 Days22 Days-61.2%

Summary: Homes in 61250 had an average of 22 days on market in May 2024, down by 61.2% compared to last month.

Breakdown of Home Sale Times

1 Home Was 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 61250 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 2 homes were sold in 61250; 50% of homes were sold within 30 days, 50% 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 3 Days Ago

Newest Listings in 61250, IL

Nearby Markets to 61250, IL