Is 61820, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61820 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61820 has remained a Seller's Market.

Key Takeaway

61820 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61820, IL

How much do homes in 61820, IL cost?

Median Sold Price

$159,900

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$9,900(+6.6%)

Key Takeaway

Homes in 61820 have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in 61820 was $159,900 in April 2024, up 6.6% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $85.4K$107.7K
+26.1%
2 $125.5K$147.5K
+17.5%
3 $150K$161.5K
+7.7%
4 $225K$182K
-19.1%
5+ $260K$272.5K
+4.8%

Summary: 61820 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 19.1%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Zip Codes

61802
+24.1%
61821
+16.0%
61822
+14.6%
61801
+11.5%
61820
+6.6%

Housing Supply in 61820, IL

How many homes are available in 61820, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4643-6.5%

Summary: The 61820 real estate market had 43 homes for sale in April 2024, a 6.5% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 1313
0.0%
3 1818
0.0%
4 108
-20.0%
5+ 33
0.0%

Summary: The 61820 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1310-23.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61820, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 61820 in April 2024, down by 23.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for 61820, IL

How long does it take to sell a home in 61820, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
14 Days10 Days-26.8%

Summary: Homes in 61820 had an average of 10 days on market in Apr 2024, down by 26.8% compared to last year.

Breakdown of Home Sale Times

10 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 61820 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 10 homes were sold in 61820; 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 2 Days Ago

Newest Listings in 61820, IL

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