Is 61607, 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, 61607 has remained a Seller's Market.
Key Takeaway
61607 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 61607, IL
How much do homes in 61607, IL cost?
Median Sold Price
$139,000
$94/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in 61607 has remained the same since last year.
Summary: The median home sold price in 61607 was $139,000 in April 2024, up 0.4% from last year, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55.7K | $72.2K | +29.6% |
| 2 Bedrooms | $107.5K | $99.9K | -7.1% |
| 3 Bedrooms | $138.5K | $144.9K | +4.6% |
| 4 Bedrooms | $200K | $195K | -2.5% |
| 5+ Bedrooms | $200K | $215K | +7.5% |
Summary: 61607 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.6%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes increased by 4.6%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 7.5%.
Housing Supply in 61607, IL
How many homes are available in 61607, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 33 | +3.1% |
Summary: The 61607 real estate market had 33 homes for sale in April 2024, a 3.1% increase 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 | 7 | 10 | +42.9% |
| 3 Bedrooms | 18 | 14 | -22.2% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 61607 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 increased by 42.9%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 61607, 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 61607 in April 2024, up by 75.0% 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 61607, IL
How long does it take to sell a home in 61607, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 28 Days | +304.1% |
Summary: Homes in 61607 had an average of 28 days on market in Apr 2024, up by 304.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 61607 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 61607; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.