Is 61081, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61081 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61081 has remained a Seller's Market.

Key Takeaway

61081 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61081, IL

How much do homes in 61081, IL cost?

Median Sold Price

$126,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,100(+9.7%)

Key Takeaway

Homes in 61081 have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in 61081 was $126,000 in October 2024, up 9.7% from last year, and the median price per square foot was $98.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $62.9K$89.9K
+42.9%
2 $76.2K$90K
+18.0%
3 $125.4K$127K
+1.2%
4 $127.4K$192K
+50.6%
5+ $103.2K$420K
+307.0%

Summary: 61081 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.9%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 50.6%, and 5+ bedroom homes increased by 307%.

Median Sold Price Compared To Nearby Zip Codes

61071
+10.8%
61081
+9.7%

Housing Supply in 61081, IL

How many homes are available in 61081, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7877-1.3%

Summary: The 61081 real estate market had 77 homes for sale in October 2024, a 1.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 32
-33.3%
2 2726
-3.7%
3 2627
+3.8%
4 1617
+6.3%
5+ 65
-16.7%

Summary: The 61081 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2513-48.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61081, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in 61081 in October 2024, down by 48.0% month-over-month. Of the 13 sold homes, 62% were sold under asking, 15% were sold at asking, and 23% were sold over asking.

Days on Market for 61081, IL

How long does it take to sell a home in 61081, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
70 Days33 Days-52.8%

Summary: Homes in 61081 had an average of 33 days on market in Oct 2024, down by 52.8% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61081 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in 61081; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% 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 14 Days Ago

Newest Listings in 61081, IL

Nearby Markets to 61081, IL