Is 61348, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61348 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61348 has remained a Seller's Market.

Key Takeaway

61348 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61348, IL

How much do homes in 61348, IL cost?

Median Sold Price

$139,000

$109/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$22,000(+18.8%)

Key Takeaway

Homes in 61348 have sold for 18.8% more than they did a year ago.

Summary: The median home sold price in 61348 was $139,000 in April 2024, up 18.8% from last year, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $93K$250K
+168.8%
2 $125K$100K
-20.0%
3 $117K$144.5K
+23.5%
4 $75.5K$220K
+191.4%
5+ $345.5K$290K
-16.1%

Summary: 61348 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 168.8%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 191.4%, and 5+ bedroom homes decreased by 16.1%.

Median Sold Price Compared To Nearby Zip Codes

61348
+18.8%
61354
+16.6%
61301
-5.3%

Housing Supply in 61348, IL

How many homes are available in 61348, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1413-7.1%

Summary: The 61348 real estate market had 13 homes for sale in April 2024, a 7.1% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 10
-100.0%
2 43
-25.0%
3 55
0.0%
4 45
+25.0%
5+ 00
0.0%

Summary: The 61348 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
35+66.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61348, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 61348 in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for 61348, IL

How long does it take to sell a home in 61348, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
191 Days14 Days-92.3%

Summary: Homes in 61348 had an average of 14 days on market in Apr 2024, down by 92.3% compared to last year.

Breakdown of Home Sale Times

4 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 61348 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 5 homes were sold in 61348; 80% of homes were sold within 30 days, 20% 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 11 Days Ago

Newest Listings in 61348, IL

Nearby Markets to 61348, IL