Is 61074, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61074 is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, 61074 was a Seller's Market.

Key Takeaway

61074 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 61074, IL

How much do homes in 61074, IL cost?

Median Sold Price

$280,000

$112/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$3,500(-1.2%)

Key Takeaway

Homes in 61074 have sold for 1.2% less than they did a month ago.

Summary: The median home sold price in 61074 was $280,000 in October 2024, down 1.2% from last month, and the median price per square foot was $112.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $510K-
N/A
3 $57K-
N/A
4 -$280K
N/A
5+ --
N/A

Summary: 61074 housing prices by bedroom type for October 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 did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 61074, IL

How many homes are available in 61074, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
97-22.2%

Summary: The 61074 real estate market had 7 homes for sale in October 2024, a 22.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 21
-50.0%
4 44
0.0%
5+ 00
0.0%

Summary: The 61074 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 33.3%, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61074, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 61074 in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 61074, IL

How long does it take to sell a home in 61074, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
21 Days126 Days+486.0%

Summary: Homes in 61074 had an average of 126 days on market in Oct 2024, up by 486% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 61074 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 1 homes were sold in 61074; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 13 Days Ago

Newest Listings in 61074, IL

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