Is 61761, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61761 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61761 has remained a Seller's Market.

Key Takeaway

61761 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61761, IL

How much do homes in 61761, IL cost?

Median Sold Price

$241,000

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$23,625(+10.9%)

Key Takeaway

Homes in 61761 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 61761 was $241,000 in March 2024, up 10.9% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $254.4K$289.9K
+13.9%
2 $152.5K$175K
+14.8%
3 $210K$230K
+9.5%
4 $292.2K$300K
+2.7%
5+ $231.8K$235K
+1.3%

Summary: 61761 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 1.3%.

Median Sold Price Compared To Nearby Zip Codes

61761
+10.9%
61701
+7.8%
61704
+6.9%
61705
-1.1%

Housing Supply in 61761, IL

How many homes are available in 61761, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
96117+21.9%

Summary: The 61761 real estate market had 117 homes for sale in March 2024, a 21.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 1819
+5.6%
3 4257
+35.7%
4 2934
+17.2%
5+ 65
-16.7%

Summary: The 61761 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 35.7%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2340+73.9%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61761, you could pay more than the asking price. 55% of homes here sold above asking price last month.

Summary: A total of 40 homes were sold or pending in 61761 in March 2024, up by 73.9% month-over-month. Of the 40 sold homes, 23% were sold under asking, 23% were sold at asking, and 55% were sold over asking.

Days on Market for 61761, IL

How long does it take to sell a home in 61761, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
22 Days48 Days+118.2%

Summary: Homes in 61761 had an average of 48 days on market in Mar 2024, up by 118.2% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61761 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 40 homes were sold in 61761; 85% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 13% 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 23 Days Ago

Newest Listings in 61761, IL

Nearby Markets to 61761, IL