Is 61956, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61956 is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 61956 was a Neutral Market.

Key Takeaway

61956 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61956, IL

How much do homes in 61956, IL cost?

Median Sold Price

$120,500

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$13,000(+12.1%)

Key Takeaway

Homes in 61956 have sold for 12.1% more than they did a year ago.

Summary: The median home sold price in 61956 was $120,500 in April 2024, up 12.1% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $65.5K$95K
+45.0%
3 $142K$129.5K
-8.8%
4 $156.2K$195K
+24.8%
5+ $200K$147.5K
-26.3%

Summary: 61956 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 45%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes decreased by 26.3%.

Housing Supply in 61956, IL

How many homes are available in 61956, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1211-8.3%

Summary: The 61956 real estate market had 11 homes for sale in April 2024, a 8.3% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 11
0.0%
3 87
-12.5%
4 10
-100.0%
5+ 23
+50.0%

Summary: The 61956 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61956, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 61956 in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 61956, IL

How long does it take to sell a home in 61956, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
48 Days90 Days+86.9%

Summary: Homes in 61956 had an average of 90 days on market in Apr 2024, up by 86.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61956 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 3 homes were sold in 61956; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 8 Days Ago

Newest Listings in 61956, IL

Nearby Markets to 61956, IL