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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61061 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 61061 was a Seller's Market.

Key Takeaway

61061 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 61061, IL

How much do homes in 61061, IL cost?

Median Sold Price

$190,000

$113/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$6,000(-3.1%)

Key Takeaway

Homes in 61061 have sold for 3.1% less than they did a year ago.

Summary: The median home sold price in 61061 was $190,000 in October 2024, down 3.1% from last year, and the median price per square foot was $113.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $77K$137.5K
+78.6%
2 $119.9K$197K
+64.3%
3 $184.9K$181K
-2.1%
4 $259K$216K
-16.6%
5+ $385K$550K
+42.9%

Summary: 61061 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 78.6%, 2 bedroom homes increased by 64.3%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 16.6%, and 5+ bedroom homes increased by 42.9%.

Median Sold Price Compared To Nearby Zip Codes

61061
-3.1%
61054
-5.6%

Housing Supply in 61061, IL

How many homes are available in 61061, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3220-37.5%

Summary: The 61061 real estate market had 20 homes for sale in October 2024, a 37.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 86
-25.0%
3 1610
-37.5%
4 73
-57.1%
5+ 00
0.0%

Summary: The 61061 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 57.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
163-81.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61061, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in 61061 in October 2024, down by 81.3% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% 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

Oct 2023Oct 2024CHANGE
15 Days7 Days-53.7%

Summary: Homes in 61061 had an average of 7 days on market in Oct 2024, down by 53.7% compared to last year.

Breakdown of Home Sale Times

3 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 61061 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in 61061; 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 4 Days Ago

Newest Listings in 61061, IL

Nearby Markets to 61061, IL