Is 61072, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61072 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 61072 has remained a Seller's Market.

Key Takeaway

61072 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61072, IL

How much do homes in 61072, IL cost?

Median Sold Price

$279,950

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$24,950(+9.8%)

Key Takeaway

Homes in 61072 have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in 61072 was $279,950 in December 2024, up 9.8% from last year, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $67.5K$87K
+28.9%
2 $177.5K$210K
+18.3%
3 $252K$275K
+9.1%
4 $295.5K$310K
+4.9%
5+ $366.2K$400K
+9.2%

Summary: 61072 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.9%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Zip Codes

61080
+11.3%
61073
+10.3%
61072
+9.8%

Housing Supply in 61072, IL

How many homes are available in 61072, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
2015-25.0%

Summary: The 61072 real estate market had 15 homes for sale in December 2024, a 25.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 22
0.0%
3 97
-22.2%
4 96
-33.3%
5+ 00
0.0%

Summary: The 61072 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 22.2%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

5 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 61072, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 61072 in December 2024, down by 25.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.

Days on Market for 61072, IL

How long does it take to sell a home in 61072, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
57 Days20 Days-65.2%

Summary: Homes in 61072 had an average of 20 days on market in Dec 2024, down by 65.2% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61072 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 6 homes were sold in 61072; 83% of homes were sold within 30 days, 17% 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 61072, IL

Nearby Markets to 61072, IL