Is 61856, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61856 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 61856 has remained a Seller's Market.

Key Takeaway

61856 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61856, IL

How much do homes in 61856, IL cost?

Median Sold Price

$253,800

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$46,350(+22.3%)

Key Takeaway

Homes in 61856 have sold for 22.3% more than they did a year ago.

Summary: The median home sold price in 61856 was $253,800 in April 2024, up 22.3% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $135K$120K
-11.1%
2 $117.5K$144K
+22.6%
3 $212.5K$269.9K
+27.0%
4 $339.4K$311.2K
-8.3%
5+ $277.5K-
N/A

Summary: 61856 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 27%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes did not change.

Housing Supply in 61856, IL

How many homes are available in 61856, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3132+3.2%

Summary: The 61856 real estate market had 32 homes for sale in April 2024, a 3.2% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 98
-11.1%
3 1313
0.0%
4 811
+37.5%
5+ 10
-100.0%

Summary: The 61856 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61856, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 61856 in April 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for 61856, IL

How long does it take to sell a home in 61856, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
90 Days22 Days-75.1%

Summary: Homes in 61856 had an average of 22 days on market in Apr 2024, down by 75.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61856 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in 61856; 67% of homes were sold within 30 days, 33% 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 5 Days Ago

Newest Listings in 61856, IL

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