Is 61745, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61745 is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61745 was a Buyer's Market.

Key Takeaway

61745 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61745, IL

How much do homes in 61745, IL cost?

Median Sold Price

$245,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$40,000(+19.5%)

Key Takeaway

Homes in 61745 have sold for 19.5% more than they did a year ago.

Summary: The median home sold price in 61745 was $245,000 in April 2024, up 19.5% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $247.5K-
N/A
2 $129.9K$129K
-0.7%
3 $202.5K$230K
+13.6%
4 $210K$272K
+29.5%
5+ $473.3K$289K
-38.9%

Summary: 61745 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes decreased by 38.9%.

Housing Supply in 61745, IL

How many homes are available in 61745, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1715-11.8%

Summary: The 61745 real estate market had 15 homes for sale in April 2024, a 11.8% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1210
-16.7%
4 32
-33.3%
5+ 11
0.0%

Summary: The 61745 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 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61745, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 61745 in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for 61745, IL

How long does it take to sell a home in 61745, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
3 Days4 Days+33.3%

Summary: Homes in 61745 had an average of 4 days on market in Apr 2024, up by 33.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61745 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 3 homes were sold in 61745; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 5 Days Ago

Newest Listings in 61745, IL

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