Is 61832, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61832 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 61832 was a Buyer's Market.

Key Takeaway

61832 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61832, IL

How much do homes in 61832, IL cost?

Median Sold Price

$20,000

$25/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$110,000(-84.6%)

Key Takeaway

Homes in 61832 have sold for 84.6% less than they did a month ago.

Summary: The median home sold price in 61832 was $20,000 in March 2024, down 84.6% from last month, and the median price per square foot was $25.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 -$20K
N/A
2 -$20K
N/A
3 $148K$38K
-74.3%
4 $130K$169.9K
+30.7%
5+ --
N/A

Summary: 61832 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 74.3%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61858
-17.4%
61832
-84.6%

Housing Supply in 61832, IL

How many homes are available in 61832, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3842+10.5%

Summary: The 61832 real estate market had 42 homes for sale in March 2024, a 10.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 1215
+25.0%
3 1416
+14.3%
4 98
-11.1%
5+ 11
0.0%

Summary: The 61832 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
311+266.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61832, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 61832 in March 2024, up by 266.7% month-over-month. Of the 11 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% were sold over asking.

Days on Market for 61832, IL

How long does it take to sell a home in 61832, IL?

Average Sale Time

Feb 2024Mar 2024CHANGE
79 Days120 Days+51.7%

Summary: Homes in 61832 had an average of 120 days on market in Mar 2024, up by 51.7% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 61832 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 11 homes were sold in 61832; 18% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 82% 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 28 Days Ago

Newest Listings in 61832, IL

Nearby Markets to 61832, IL