Is 61061, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61061 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 61061 has remained a Seller's Market.

Key Takeaway

61061 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61061, IL

How much do homes in 61061, IL cost?

Median Sold Price

$190,000

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$8,500(-4.3%)

Key Takeaway

Homes in 61061 have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in 61061 was $190,000 in December 2024, down 4.3% from last year, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $77K$133.7K
+73.7%
2 $177K$148K
-16.4%
3 $179.9K$183K
+1.7%
4 $250K$273.5K
+9.4%
5+ $330K$575K
+74.2%

Summary: 61061 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.7%, 2 bedroom homes decreased by 16.4%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 74.2%.

Median Sold Price Compared To Nearby Zip Codes

61010
+10.7%
61061
-4.3%
61054
-5.7%

Housing Supply in 61061, IL

How many homes are available in 61061, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
2113-38.1%

Summary: The 61061 real estate market had 13 homes for sale in December 2024, a 38.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 41
-75.0%
3 1310
-23.1%
4 30
-100.0%
5+ 01
+100.0%

Summary: The 61061 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 decreased by 75%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
104-60.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61061, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 61061 in December 2024, down by 60.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for 61061, IL

How long does it take to sell a home in 61061, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
38 Days23 Days-37.7%

Summary: Homes in 61061 had an average of 23 days on market in Dec 2024, down by 37.7% compared to last year.

Breakdown of Home Sale Times

2 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 61061 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 4 homes were sold in 61061; 50% of homes were sold within 30 days, 50% 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 2 Days Ago

Newest Listings in 61061, IL

Nearby Markets to 61061, IL