Is 61801, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61801 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61801 has remained a Seller's Market.

Key Takeaway

61801 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61801, IL

How much do homes in 61801, IL cost?

Median Sold Price

$176,175

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$18,175(+11.5%)

Key Takeaway

Homes in 61801 have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in 61801 was $176,175 in April 2024, up 11.5% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $72.5K$82.5K
+13.8%
2 $115K$125K
+8.7%
3 $165K$180K
+9.1%
4 $200K$250K
+25.0%
5+ $229K$238K
+3.9%

Summary: 61801 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 3.9%.

Median Sold Price Compared To Nearby Zip Codes

61802
+24.1%
61801
+11.5%
61820
+6.6%

Housing Supply in 61801, IL

How many homes are available in 61801, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
7673-3.9%

Summary: The 61801 real estate market had 73 homes for sale in April 2024, a 3.9% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 2118
-14.3%
3 2730
+11.1%
4 1413
-7.1%
5+ 1211
-8.3%

Summary: The 61801 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 8.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1624+50.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61801, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in 61801 in April 2024, up by 50.0% month-over-month. Of the 24 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.

Days on Market for 61801, IL

How long does it take to sell a home in 61801, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
27 Days19 Days-27.4%

Summary: Homes in 61801 had an average of 19 days on market in Apr 2024, down by 27.4% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61801 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 24 homes were sold in 61801; 79% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% 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 1 Day Ago

Newest Listings in 61801, IL

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