Is 61802, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61802 is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61802 was a Buyer's Market.

Key Takeaway

61802 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61802, IL

How much do homes in 61802, IL cost?

Median Sold Price

$225,000

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$43,683(+24.1%)

Key Takeaway

Homes in 61802 have sold for 24.1% more than they did a year ago.

Summary: The median home sold price in 61802 was $225,000 in April 2024, up 24.1% from last year, and the median price per square foot was $141.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $150K$70K
-53.3%
2 $130K$144K
+10.8%
3 $200K$245K
+22.5%
4 $207.9K$270K
+29.8%
5+ $350K$402.5K
+15.0%

Summary: 61802 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.3%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 29.8%, and 5+ bedroom homes increased by 15%.

Median Sold Price Compared To Nearby Zip Codes

61802
+24.1%
61822
+14.6%
61801
+11.5%
61820
+6.6%
61874
+3.7%

Housing Supply in 61802, IL

How many homes are available in 61802, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
74740.0%

Summary: The 61802 real estate market had 74 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 89
+12.5%
3 5449
-9.3%
4 913
+44.4%
5+ 12
+100.0%

Summary: The 61802 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 increased by 12.5%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1923+21.1%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61802, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in 61802 in April 2024, up by 21.1% month-over-month. Of the 23 sold homes, 43% were sold under asking, 26% were sold at asking, and 30% were sold over asking.

Days on Market for 61802, IL

How long does it take to sell a home in 61802, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
25 Days41 Days+65.3%

Summary: Homes in 61802 had an average of 41 days on market in Apr 2024, up by 65.3% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61802 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 23 homes were sold in 61802; 61% of homes were sold within 30 days, 26% 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 5 Days Ago

Newest Listings in 61802, IL

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