Is 61008, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61008 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61008 has remained a Seller's Market.

Key Takeaway

61008 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61008, IL

How much do homes in 61008, IL cost?

Median Sold Price

$255,000

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$45,000(+21.4%)

Key Takeaway

Homes in 61008 have sold for 21.4% more than they did a year ago.

Summary: The median home sold price in 61008 was $255,000 in October 2024, up 21.4% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$255K
N/A
2 $136K$155K
+14.0%
3 $212.5K$248K
+16.7%
4 $280K$310K
+10.7%
5+ $189.9K$308.5K
+62.5%

Summary: 61008 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 62.5%.

Median Sold Price Compared To Nearby Zip Codes

61008
+21.4%
61065
+7.4%
61114
+4.9%
61016
-2.6%

Housing Supply in 61008, IL

How many homes are available in 61008, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9096+6.7%

Summary: The 61008 real estate market had 96 homes for sale in October 2024, a 6.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 612
+100.0%
3 4750
+6.4%
4 2423
-4.2%
5+ 1310
-23.1%

Summary: The 61008 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 23.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3028-6.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61008, you could pay more than the asking price. 46.4% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in 61008 in October 2024, down by 6.7% month-over-month. Of the 28 sold homes, 36% were sold under asking, 18% were sold at asking, and 46% were sold over asking.

Days on Market for 61008, IL

How long does it take to sell a home in 61008, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days19 Days-29.5%

Summary: Homes in 61008 had an average of 19 days on market in Oct 2024, down by 29.5% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61008 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 28 homes were sold in 61008; 82% of homes were sold within 30 days, 18% 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 4 Days Ago

Newest Listings in 61008, IL

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