Is 61111, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61111 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 61111 has remained a Seller's Market.

Key Takeaway

61111 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61111, IL

How much do homes in 61111, IL cost?

Median Sold Price

$190,750

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,750(+11.5%)

Key Takeaway

Homes in 61111 have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in 61111 was $190,750 in November 2024, up 11.5% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $65K$144.5K
+122.3%
2 $148.5K$162.5K
+9.4%
3 $174.5K$207.5K
+18.9%
4 $264K$260.5K
-1.3%
5+ $365K$210K
-42.5%

Summary: 61111 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.3%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 18.9%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 42.5%.

Median Sold Price Compared To Nearby Zip Codes

61103
+23.9%
61115
+12.5%
61111
+11.5%
61107
+7.8%
61114
+5.7%

Housing Supply in 61111, IL

How many homes are available in 61111, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5447-13.0%

Summary: The 61111 real estate market had 47 homes for sale in November 2024, a 13.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1411
-21.4%
3 3028
-6.7%
4 64
-33.3%
5+ 44
0.0%

Summary: The 61111 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 21.4%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1617+6.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61111, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in 61111 in November 2024, up by 6.3% month-over-month. Of the 17 sold homes, 29% were sold under asking, 24% were sold at asking, and 47% were sold over asking.

Days on Market for 61111, IL

How long does it take to sell a home in 61111, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
23 Days11 Days-49.4%

Summary: Homes in 61111 had an average of 11 days on market in Nov 2024, down by 49.4% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61111 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 17 homes were sold in 61111; 94% of homes were sold within 30 days, 6% 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 61111, IL

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