Is 61270, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61270 is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61270 was a Buyer's Market.

Key Takeaway

61270 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61270, IL

How much do homes in 61270, IL cost?

Median Sold Price

$138,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$6,000(+4.5%)

Key Takeaway

Homes in 61270 have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in 61270 was $138,000 in April 2024, up 4.5% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $136.3K$115.5K
-15.3%
2 $92.5K$83K
-10.3%
3 $139.7K$136.2K
-2.5%
4 $148K$177.5K
+19.9%
5+ $167.4K$218K
+30.2%

Summary: 61270 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.3%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 30.2%.

Median Sold Price Compared To Nearby Zip Codes

61261
+79.7%
61252
+12.8%
61270
+4.5%

Housing Supply in 61270, IL

How many homes are available in 61270, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2322-4.3%

Summary: The 61270 real estate market had 22 homes for sale in April 2024, a 4.3% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 35
+66.7%
3 1311
-15.4%
4 55
0.0%
5+ 00
0.0%

Summary: The 61270 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
46+50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61270, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in 61270 in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for 61270, IL

How long does it take to sell a home in 61270, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
1 Days27 Days+1570.0%

Summary: Homes in 61270 had an average of 27 days on market in Apr 2024, up by 1570% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61270 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in 61270; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% 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 5 Days Ago

Newest Listings in 61270, IL

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