Is 61109, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61109 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61109 has remained a Seller's Market.

Key Takeaway

61109 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61109, IL

How much do homes in 61109, IL cost?

Median Sold Price

$165,500

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,500(+7.5%)

Key Takeaway

Homes in 61109 have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in 61109 was $165,500 in October 2024, up 7.5% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $121.5K$53.5K
-56.0%
2 $69K$82K
+18.8%
3 $181K$176K
-2.8%
4 $212.5K$215K
+1.2%
5+ $340K$235K
-30.9%

Summary: 61109 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 56%, 2 bedroom homes increased by 18.8%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 30.9%.

Median Sold Price Compared To Nearby Zip Codes

61104
+36.4%
61102
+14.4%
61109
+7.5%
61108
+6.0%
61016
-2.6%

Housing Supply in 61109, IL

How many homes are available in 61109, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5251-1.9%

Summary: The 61109 real estate market had 51 homes for sale in October 2024, a 1.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 910
+11.1%
3 3333
0.0%
4 75
-28.6%
5+ 22
0.0%

Summary: The 61109 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 11.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2013-35.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61109, 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 61109 in October 2024, down by 35.0% month-over-month. Of the 13 sold homes, 62% were sold under asking, 0% were sold at asking, and 38% were sold over asking.

Days on Market for 61109, IL

How long does it take to sell a home in 61109, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days26 Days+57.2%

Summary: Homes in 61109 had an average of 26 days on market in Oct 2024, up by 57.2% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61109 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in 61109; 69% of homes were sold within 30 days, 31% 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 4 Days Ago

Newest Listings in 61109, IL

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