Is 61103, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61103 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 61103 has remained a Seller's Market.

Key Takeaway

61103 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61103, IL

How much do homes in 61103, IL cost?

Median Sold Price

$136,250

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$26,250(+23.9%)

Key Takeaway

Homes in 61103 have sold for 23.9% more than they did a year ago.

Summary: The median home sold price in 61103 was $136,250 in November 2024, up 23.9% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $35K$200K
+471.4%
2 $97K$118K
+21.6%
3 $114K$136K
+19.3%
4 $106K$169.5K
+59.9%
5+ $123.2K$145.2K
+17.9%

Summary: 61103 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 471.4%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 59.9%, and 5+ bedroom homes increased by 17.9%.

Median Sold Price Compared To Nearby Zip Codes

61103
+23.9%
61115
+12.5%
61111
+11.5%
61101
+9.3%
61107
+7.8%

Housing Supply in 61103, IL

How many homes are available in 61103, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7367-8.2%

Summary: The 61103 real estate market had 67 homes for sale in November 2024, a 8.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1310
-23.1%
3 4235
-16.7%
4 1316
+23.1%
5+ 56
+20.0%

Summary: The 61103 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1921+10.5%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61103, you could pay more than the asking price. 38.1% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in 61103 in November 2024, up by 10.5% month-over-month. Of the 21 sold homes, 29% were sold under asking, 33% were sold at asking, and 38% were sold over asking.

Days on Market for 61103, IL

How long does it take to sell a home in 61103, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
30 Days14 Days-52.4%

Summary: Homes in 61103 had an average of 14 days on market in Nov 2024, down by 52.4% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61103 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 21 homes were sold in 61103; 86% of homes were sold within 30 days, 14% 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 3 Days Ago

Newest Listings in 61103, IL

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