Is 61244, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61244 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61244 has remained a Seller's Market.

Key Takeaway

61244 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61244, IL

How much do homes in 61244, IL cost?

Median Sold Price

$143,950

$100/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,825(+9.8%)

Key Takeaway

Homes in 61244 have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in 61244 was $143,950 in October 2024, up 9.8% from last year, and the median price per square foot was $100.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $68K$55K
-19.1%
2 $87.5K$124K
+41.7%
3 $146.7K$155K
+5.6%
4 $198.5K$201.4K
+1.5%
5+ $210.5K$153.6K
-27.0%

Summary: 61244 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.1%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 27%.

Median Sold Price Compared To Nearby Zip Codes

61244
+9.8%
61282
-4.0%

Housing Supply in 61244, IL

How many homes are available in 61244, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7989+12.7%

Summary: The 61244 real estate market had 89 homes for sale in October 2024, a 12.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 45
+25.0%
2 2925
-13.8%
3 2837
+32.1%
4 1620
+25.0%
5+ 22
0.0%

Summary: The 61244 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 13.8%, 3 bedroom homes increased by 32.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1821+16.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61244, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in 61244 in October 2024, up by 16.7% month-over-month. Of the 21 sold homes, 48% were sold under asking, 14% were sold at asking, and 38% were sold over asking.

Days on Market for 61244, IL

How long does it take to sell a home in 61244, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days28 Days+83.3%

Summary: Homes in 61244 had an average of 28 days on market in Oct 2024, up by 83.3% compared to last year.

Breakdown of Home Sale Times

16 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 61244 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 21 homes were sold in 61244; 76% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 5% 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 61244, IL

Nearby Markets to 61244, IL