Is 61542, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 61542 was a Seller's Market.
Key Takeaway
61542 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 61542, IL
How much do homes in 61542, IL cost?
Median Sold Price
$74,500
$46/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 61542 have sold for 14.4% less than they did a year ago.
Summary: The median home sold price in 61542 was $74,500 in April 2024, down 14.4% from last year, and the median price per square foot was $46.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $63.2K | $44.5K | -29.6% |
| 3 Bedrooms | $102.5K | $82.4K | -19.6% |
| 4 Bedrooms | $123K | $117.7K | -4.2% |
| 5+ Bedrooms | - | $219K | N/A |
Summary: 61542 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 29.6%, 3 bedroom homes decreased by 19.6%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 62644 | $69.5K | $70K | +0.7% |
| 61542 | $87K | $74.5K | -14.4% |
| 61427 | $136.5K | $90K | -34.1% |
Housing Supply in 61542, IL
How many homes are available in 61542, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Summary: The 61542 real estate market had 18 homes for sale in April 2024, a 10.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 61542 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 decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 61542, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 61542 in April 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 61542, IL
How long does it take to sell a home in 61542, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 108 Days | +317.9% |
Summary: Homes in 61542 had an average of 108 days on market in Apr 2024, up by 317.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 61542 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in 61542; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.