Is 61853, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61853 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 61853 has remained a Seller's Market.

Key Takeaway

61853 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61853, IL

How much do homes in 61853, IL cost?

Median Sold Price

$359,000

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$34,050(+10.5%)

Key Takeaway

Homes in 61853 have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in 61853 was $359,000 in March 2024, up 10.5% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $290K$327.4K
+12.9%
3 $300K$285.7K
-4.8%
4 $350K$429.9K
+22.8%
5+ $567.5K$409.5K
-27.8%

Summary: 61853 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.9%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes decreased by 27.8%.

Median Sold Price Compared To Nearby Zip Codes

61822
+12.4%
61853
+10.5%
61854
-11.0%

Housing Supply in 61853, IL

How many homes are available in 61853, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6367+6.3%

Summary: The 61853 real estate market had 67 homes for sale in March 2024, a 6.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 3028
-6.7%
4 2631
+19.2%
5+ 43
-25.0%

Summary: The 61853 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 66.7%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
918+100.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61853, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in 61853 in March 2024, up by 100.0% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% were sold over asking.

Days on Market for 61853, IL

How long does it take to sell a home in 61853, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
28 Days68 Days+137.8%

Summary: Homes in 61853 had an average of 68 days on market in Mar 2024, up by 137.8% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61853 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 18 homes were sold in 61853; 56% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 28% 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 26 Days Ago

Newest Listings in 61853, IL

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