Is 61364, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61364 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61364 has remained a Seller's Market.

Key Takeaway

61364 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61364, IL

How much do homes in 61364, IL cost?

Median Sold Price

$97,000

$81/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$4,500(+4.9%)

Key Takeaway

Homes in 61364 have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in 61364 was $97,000 in March 2024, up 4.9% from last year, and the median price per square foot was $81.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $40K$40K
0.0%
2 $72K$76K
+5.6%
3 $98.5K$105K
+6.6%
4 $105K$110K
+4.8%
5+ $91.2K$168.9K
+85.1%

Summary: 61364 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 85.1%.

Housing Supply in 61364, IL

How many homes are available in 61364, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6564-1.5%

Summary: The 61364 real estate market had 64 homes for sale in March 2024, a 1.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 1215
+25.0%
3 3335
+6.1%
4 84
-50.0%
5+ 108
-20.0%

Summary: The 61364 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1117+54.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61364, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 61364 in March 2024, up by 54.5% month-over-month. Of the 17 sold homes, 71% were sold under asking, 6% were sold at asking, and 24% were sold over asking.

Days on Market for 61364, IL

How long does it take to sell a home in 61364, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
72 Days30 Days-58.1%

Summary: Homes in 61364 had an average of 30 days on market in Mar 2024, down by 58.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61364 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 17 homes were sold in 61364; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 12% 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 30 Days Ago

Newest Listings in 61364, IL

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