Is 61256, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 61256 has remained a Seller's Market.
Key Takeaway
61256 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 61256, IL
How much do homes in 61256, IL cost?
Median Sold Price
$195,375
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 61256 have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in 61256 was $195,375 in May 2024, up 8.2% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $100K | $119K | +19.0% |
| 3 Bedrooms | $182.7K | $203.2K | +11.2% |
| 4 Bedrooms | $175.7K | $156.9K | -10.7% |
| 5+ Bedrooms | $305K | $297.5K | -2.5% |
Summary: 61256 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 11.2%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes decreased by 2.5%.
Housing Supply in 61256, IL
How many homes are available in 61256, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Summary: The 61256 real estate market had 7 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 61256 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 decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 61256, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 61256 in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 61256, IL
How long does it take to sell a home in 61256, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 47 Days | 11 Days | -76.6% |
Summary: Homes in 61256 had an average of 11 days on market in May 2024, down by 76.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 61256 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in 61256; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.