Is 61554, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61554 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61554 has remained a Seller's Market.

Key Takeaway

61554 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61554, IL

How much do homes in 61554, IL cost?

Median Sold Price

$124,925

$89/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$10,335(+9.0%)

Key Takeaway

Homes in 61554 have sold for 9% more than they did a year ago.

Summary: The median home sold price in 61554 was $124,925 in April 2024, up 9% from last year, and the median price per square foot was $89.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $44K$38.2K
-13.1%
2 $85.5K$89.9K
+5.1%
3 $119.4K$126K
+5.5%
4 $160K$157K
-1.9%
5+ $180K$238K
+32.2%

Summary: 61554 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.1%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 32.2%.

Median Sold Price Compared To Nearby Zip Codes

61610
+21.0%
61554
+9.0%
61607
0.4%

Housing Supply in 61554, IL

How many homes are available in 61554, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
113117+3.5%

Summary: The 61554 real estate market had 117 homes for sale in April 2024, a 3.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 54
-20.0%
2 3438
+11.8%
3 4948
-2.0%
4 1821
+16.7%
5+ 76
-14.3%

Summary: The 61554 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 11.8%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3750+35.1%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61554, you may be able to get a good deal. 52% of homes here sold below asking price last month.

Summary: A total of 50 homes were sold or pending in 61554 in April 2024, up by 35.1% month-over-month. Of the 50 sold homes, 52% were sold under asking, 12% were sold at asking, and 36% were sold over asking.

Days on Market for 61554, IL

How long does it take to sell a home in 61554, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
25 Days31 Days+21.7%

Summary: Homes in 61554 had an average of 31 days on market in Apr 2024, up by 21.7% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61554 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 50 homes were sold in 61554; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% 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 1 Day Ago

Newest Listings in 61554, IL

Nearby Markets to 61554, IL