Is 61525, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61525 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 61525 has remained a Seller's Market.

Key Takeaway

61525 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61525, IL

How much do homes in 61525, IL cost?

Median Sold Price

$354,500

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$24,500(+7.4%)

Key Takeaway

Homes in 61525 have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in 61525 was $354,500 in May 2024, up 7.4% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $179.9K$145.5K
-19.1%
3 $242.7K$260.1K
+7.2%
4 $295.3K$345K
+16.8%
5+ $432K$442K
+2.3%

Summary: 61525 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.1%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 2.3%.

Median Sold Price Compared To Nearby Zip Codes

61559
+15.4%
61523
+8.1%
61525
+7.4%
61615
+2.0%

Housing Supply in 61525, IL

How many homes are available in 61525, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4140-2.4%

Summary: The 61525 real estate market had 40 homes for sale in May 2024, a 2.4% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 810
+25.0%
4 1210
-16.7%
5+ 2018
-10.0%

Summary: The 61525 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61525, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in 61525 in May 2024, up by 7.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 7% were sold at asking, and 50% were sold over asking.

Days on Market for 61525, IL

How long does it take to sell a home in 61525, IL?

Average Sale Time

May 2023May 2024CHANGE
26 Days8 Days-67.5%

Summary: Homes in 61525 had an average of 8 days on market in May 2024, down by 67.5% compared to last year.

Breakdown of Home Sale Times

13 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 61525 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 14 homes were sold in 61525; 93% of homes were sold within 30 days, 7% 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 4 Days Ago

Newest Listings in 61525, IL

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