Is 61738, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61738 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61738 has remained a Seller's Market.

Key Takeaway

61738 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61738, IL

How much do homes in 61738, IL cost?

Median Sold Price

$156,000

$89/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$14,800(-8.7%)

Key Takeaway

Homes in 61738 have sold for 8.7% less than they did a year ago.

Summary: The median home sold price in 61738 was $156,000 in April 2024, down 8.7% from last year, and the median price per square foot was $89.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $123.9K$236K
+90.4%
2 $85.5K$151.7K
+77.5%
3 $166.8K$152K
-8.9%
4 $265K$171.5K
-35.3%
5+ $178K$156K
-12.4%

Summary: 61738 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 90.4%, 2 bedroom homes increased by 77.5%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 35.3%, and 5+ bedroom homes decreased by 12.4%.

Median Sold Price Compared To Nearby Zip Codes

61748
+0.9%
61738
-8.7%

Housing Supply in 61738, IL

How many homes are available in 61738, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
76-14.3%

Summary: The 61738 real estate market had 6 homes for sale in April 2024, a 14.3% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 44
0.0%
4 12
+100.0%
5+ 10
-100.0%

Summary: The 61738 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61738, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 61738 in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for 61738, IL

How long does it take to sell a home in 61738, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
1 Day33 Days+3200.0%

Summary: Homes in 61738 had an average of 33 days on market in Apr 2024, up by 3200% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61738 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 4 homes were sold in 61738; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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 11 Days Ago

Newest Listings in 61738, IL

Nearby Markets to 61738, IL