Is 61603, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 61603 has remained a Seller's Market.
Housing Prices in 61603, IL
How much do homes in 61603, IL cost?
Median Sold Price
$47,333
$40/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 61603 was $47,333 in April 2024, down 5.3% from last year, and the median price per square foot was $40.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $25.5K | $33.5K | +31.4% |
2 Bedrooms | $48.9K | $40K | -18.3% |
3 Bedrooms | $54K | $54.1K | 0.3% |
4 Bedrooms | $59.7K | $51K | -14.6% |
5+ Bedrooms | $47.7K | $79K | +65.4% |
Summary: 61603 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.4%, 2 bedroom homes decreased by 18.3%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 65.4%.
Median Sold Price Compared To Nearby Zip Codes
61603 | $50K | $47.3K | -5.3% |
61606 | $119.3K | $96.2K | -19.4% |
Housing Supply in 61603, IL
How many homes are available in 61603, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 69 | -5.5% |
Summary: The 61603 real estate market had 69 homes for sale in April 2024, a 5.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 26 | 23 | -11.5% |
3 Bedrooms | 28 | 27 | -3.6% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 61603 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 11.5%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 18 | -25.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 61603 in April 2024, down by 25.0% month-over-month. Of the 18 sold homes, 78% were sold under asking, 6% were sold at asking, and 17% were sold over asking.
Days on Market for 61603, IL
How long does it take to sell a home in 61603, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
11 Days | 60 Days | +416.3% |
Summary: Homes in 61603 had an average of 60 days on market in Apr 2024, up by 416.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in 61603; 50% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.