Is 61341, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61341 is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61341 was a Seller's Market.

Key Takeaway

61341 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 61341, IL

How much do homes in 61341, IL cost?

Median Sold Price

$186,195

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$12,755(-6.4%)

Key Takeaway

Homes in 61341 have sold for 6.4% less than they did a year ago.

Summary: The median home sold price in 61341 was $186,195 in April 2024, down 6.4% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $173.5K-
N/A
2 $131.9K$120K
-9.0%
3 $200K$200K
0.0%
4 $362.9K$231K
-36.3%
5+ $227.5K$217.5K
-4.4%

Summary: 61341 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 9%, 3 bedroom homes did not change, 4 bedroom homes decreased by 36.3%, and 5+ bedroom homes decreased by 4.4%.

Median Sold Price Compared To Nearby Zip Codes

61350
+6.6%
61341
-6.4%

Housing Supply in 61341, IL

How many homes are available in 61341, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2728+3.7%

Summary: The 61341 real estate market had 28 homes for sale in April 2024, a 3.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 12
+100.0%
2 34
+33.3%
3 1714
-17.6%
4 46
+50.0%
5+ 22
0.0%

Summary: The 61341 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
64-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61341, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in 61341 in April 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for 61341, IL

How long does it take to sell a home in 61341, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
70 Days10 Days-85.8%

Summary: Homes in 61341 had an average of 10 days on market in Apr 2024, down by 85.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were 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 61341 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 4 homes were sold in 61341; 75% of homes were sold within 30 days, 25% 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 61341, IL

Nearby Markets to 61341, IL