Is 61705, 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, 61705 has remained a Seller's Market.
Housing Prices in 61705, IL
How much do homes in 61705, IL cost?
Median Sold Price
$359,900
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 61705 was $359,900 in March 2024, down 1.1% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $447.5K | N/A |
2 Bedrooms | $260K | $275K | +5.8% |
3 Bedrooms | $293K | $319.9K | +9.2% |
4 Bedrooms | $405K | $405K | 0.0% |
5+ Bedrooms | $462.5K | $518K | +12.0% |
Summary: 61705 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 9.2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 12%.
Housing Supply in 61705, IL
How many homes are available in 61705, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
61 | 60 | -1.6% |
Summary: The 61705 real estate market had 60 homes for sale in March 2024, a 1.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 8 | 6 | -25.0% |
3 Bedrooms | 22 | 27 | +22.7% |
4 Bedrooms | 24 | 22 | -8.3% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 61705 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 14 | +7.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 61705 in March 2024, up by 7.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 61705, IL
How long does it take to sell a home in 61705, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 114 Days | +430.1% |
Summary: Homes in 61705 had an average of 114 days on market in Mar 2024, up by 430.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 61705; 64% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.