Is 61277, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61277 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61277 has remained a Seller's Market.

Key Takeaway

61277 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61277, IL

How much do homes in 61277, IL cost?

Median Sold Price

$129,500

$90/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$22,250(+20.7%)

Key Takeaway

Homes in 61277 have sold for 20.7% more than they did a year ago.

Summary: The median home sold price in 61277 was $129,500 in April 2024, up 20.7% from last year, and the median price per square foot was $90.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $30K-
N/A
2 $98K$115K
+17.3%
3 $119.7K$159K
+32.8%
4 $65K$132K
+103.1%
5+ $245K-
N/A

Summary: 61277 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 increased by 17.3%, 3 bedroom homes increased by 32.8%, 4 bedroom homes increased by 103.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61261
+79.7%
61277
+20.7%

Housing Supply in 61277, IL

How many homes are available in 61277, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
45+25.0%

Summary: The 61277 real estate market had 5 homes for sale in April 2024, a 25.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 00
0.0%
3 34
+33.3%
4 11
0.0%
5+ 00
0.0%

Summary: The 61277 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61277, 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 61277 in April 2024, up by 100.0% 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 61277, IL

How long does it take to sell a home in 61277, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
8 Days62 Days+681.3%

Summary: Homes in 61277 had an average of 62 days on market in Apr 2024, up by 681.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 61277 has remained consistent over time.

Summary: During April 2024, 2 homes were sold in 61277; 0% of homes were sold within 30 days, 100% 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 7 Days Ago

Newest Listings in 61277, IL

Nearby Markets to 61277, IL