Is 61020, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61020 is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 61020 was a Neutral Market.

Key Takeaway

61020 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61020, IL

How much do homes in 61020, IL cost?

Median Sold Price

$250,000

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$38,000(+17.9%)

Key Takeaway

Homes in 61020 have sold for 17.9% more than they did a year ago.

Summary: The median home sold price in 61020 was $250,000 in November 2024, up 17.9% from last year, and the median price per square foot was $139.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 -$127K
N/A
3 $210K$248.4K
+18.3%
4 $289.5K$310K
+7.1%
5+ $325K$510K
+56.9%

Summary: 61020 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 56.9%.

Median Sold Price Compared To Nearby Zip Codes

61020
+17.9%
61109
+10.3%

Housing Supply in 61020, IL

How many homes are available in 61020, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1513-13.3%

Summary: The 61020 real estate market had 13 homes for sale in November 2024, a 13.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1312
-7.7%
4 10
-100.0%
5+ 00
0.0%

Summary: The 61020 housing inventory by bedroom type for November 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 7.7%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61020, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 61020 in November 2024, up by 150.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.

Days on Market for 61020, IL

How long does it take to sell a home in 61020, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
5 Days15 Days+212.0%

Summary: Homes in 61020 had an average of 15 days on market in Nov 2024, up by 212% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61020 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in 61020; 100% of homes were sold within 30 days, 0% 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 10 Days Ago

Newest Listings in 61020, IL

Nearby Markets to 61020, IL