Is 61701, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 61701 has remained a Seller's Market.
Housing Prices in 61701, IL
How much do homes in 61701, IL cost?
Median Sold Price
$155,357
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 61701 was $155,357 in March 2024, up 7.8% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $82.5K | +3.1% |
2 Bedrooms | $124.7K | $130K | +4.2% |
3 Bedrooms | $154.9K | $165.5K | +6.8% |
4 Bedrooms | $185K | $192.5K | +4.1% |
5+ Bedrooms | $203.5K | $172.5K | -15.2% |
Summary: 61701 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 15.2%.
Housing Supply in 61701, IL
How many homes are available in 61701, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
91 | 104 | +14.3% |
Summary: The 61701 real estate market had 104 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 18 | 22 | +22.2% |
3 Bedrooms | 33 | 43 | +30.3% |
4 Bedrooms | 28 | 27 | -3.6% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 61701 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 30.3%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 24 | +9.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in 61701 in March 2024, up by 9.1% month-over-month. Of the 24 sold homes, 38% were sold under asking, 21% were sold at asking, and 42% were sold over asking.
Days on Market for 61701, IL
How long does it take to sell a home in 61701, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
13 Days | 16 Days | +26.6% |
Summary: Homes in 61701 had an average of 16 days on market in Mar 2024, up by 26.6% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in 61701; 92% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.