Is 61031, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61031 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 61031 has remained a Seller's Market.

Key Takeaway

61031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61031, IL

How much do homes in 61031, IL cost?

Median Sold Price

$227,000

$109/sqft

Based on all homes sold in December 2024.

Difference Since Last Month

+$48,000(+26.8%)

Key Takeaway

Homes in 61031 have sold for 26.8% more than they did a month ago.

Summary: The median home sold price in 61031 was $227,000 in December 2024, up 26.8% from last month, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 --
N/A
2 --
N/A
3 $179K$227K
+26.8%
4 --
N/A
5+ --
N/A

Summary: 61031 housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 26.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61006
+40.1%
61031
+26.8%

Housing Supply in 61031, IL

How many homes are available in 61031, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
74-42.9%

Summary: The 61031 real estate market had 4 homes for sale in December 2024, a 42.9% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 11
0.0%
3 52
-60.0%
4 11
0.0%
5+ 00
0.0%

Summary: The 61031 housing inventory by bedroom type for December 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 60%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was 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 61031, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 61031 in December 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 61031, IL

How long does it take to sell a home in 61031, IL?

Average Sale Time

Nov 2024Dec 2024CHANGE
8 Days10 Days+25.0%

Summary: Homes in 61031 had an average of 10 days on market in Dec 2024, up by 25% compared to last month.

Breakdown of Home Sale Times

2 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 61031 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 2 homes were sold in 61031; 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 8 Days Ago

Newest Listings in 61031, IL

Nearby Markets to 61031, IL