Is 61080, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61080 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61080 has remained a Seller's Market.

Key Takeaway

61080 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61080, IL

How much do homes in 61080, IL cost?

Median Sold Price

$218,000

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,750(+17.7%)

Key Takeaway

Homes in 61080 have sold for 17.7% more than they did a year ago.

Summary: The median home sold price in 61080 was $218,000 in October 2024, up 17.7% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $99.5K-
N/A
2 $116.5K$160K
+37.3%
3 $214.9K$235K
+9.4%
4 $265K$208K
-21.5%
5+ --
N/A

Summary: 61080 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.3%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 21.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61080
+17.7%
61073
+10.3%

Housing Supply in 61080, IL

How many homes are available in 61080, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1615-6.3%

Summary: The 61080 real estate market had 15 homes for sale in October 2024, a 6.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 86
-25.0%
4 44
0.0%
5+ 00
0.0%

Summary: The 61080 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 increased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
550.0%

Asking Price vs. Sold Price

3 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 61080, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 61080 in October 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for 61080, IL

How long does it take to sell a home in 61080, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
35 Days6 Days-81.7%

Summary: Homes in 61080 had an average of 6 days on market in Oct 2024, down by 81.7% compared to last year.

Breakdown of Home Sale Times

4 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 61080 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in 61080; 80% 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 17 Days Ago

Newest Listings in 61080, IL

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