Is 61101, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61101 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 61101 has remained a Seller's Market.

Key Takeaway

61101 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61101, IL

How much do homes in 61101, IL cost?

Median Sold Price

$92,900

$77/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$7,900(+9.3%)

Key Takeaway

Homes in 61101 have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in 61101 was $92,900 in November 2024, up 9.3% from last year, and the median price per square foot was $77.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $67.5K$57.7K
-14.4%
2 $66K$77K
+16.7%
3 $83.2K$110K
+32.2%
4 $104K$127.5K
+22.6%
5+ $157.7K$135K
-14.4%

Summary: 61101 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.4%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 32.2%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes decreased by 14.4%.

Median Sold Price Compared To Nearby Zip Codes

61103
+23.9%
61088
+12.2%
61101
+9.3%
61102
+5.6%

Housing Supply in 61101, IL

How many homes are available in 61101, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4454+22.7%

Summary: The 61101 real estate market had 54 homes for sale in November 2024, a 22.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 02
+100.0%
2 1317
+30.8%
3 2628
+7.7%
4 35
+66.7%
5+ 22
0.0%

Summary: The 61101 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
513+160.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61101, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in 61101 in November 2024, up by 160.0% month-over-month. Of the 13 sold homes, 54% were sold under asking, 15% were sold at asking, and 31% were sold over asking.

Days on Market for 61101, IL

How long does it take to sell a home in 61101, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
42 Days26 Days-38.9%

Summary: Homes in 61101 had an average of 26 days on market in Nov 2024, down by 38.9% 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 61101 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 13 homes were sold in 61101; 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 3 Days Ago

Newest Listings in 61101, IL

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