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 20 Days Ago

Newest Listings in 61244, IL

Nearby Markets to 61244, IL