Is 61282, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61282 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61282 has remained a Seller's Market.

Key Takeaway

61282 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61282, IL

How much do homes in 61282, IL cost?

Median Sold Price

$140,000

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$5,875(-4.0%)

Key Takeaway

Homes in 61282 have sold for 4% less than they did a year ago.

Summary: The median home sold price in 61282 was $140,000 in October 2024, down 4% from last year, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $82.4K$37.5K
-54.5%
2 $144.5K$109K
-24.6%
3 $141K$149.9K
+6.3%
4 $163.5K$195.9K
+19.9%
5+ $226K$229.9K
+1.7%

Summary: 61282 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.5%, 2 bedroom homes decreased by 24.6%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 1.7%.

Median Sold Price Compared To Nearby Zip Codes

61244
+9.8%
61282
-4.0%

Housing Supply in 61282, IL

How many homes are available in 61282, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2628+7.7%

Summary: The 61282 real estate market had 28 homes for sale in October 2024, a 7.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 1516
+6.7%
4 66
0.0%
5+ 00
0.0%

Summary: The 61282 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 20%, 3 bedroom homes increased by 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
96-33.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61282, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 61282 in October 2024, down by 33.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 61282, IL

How long does it take to sell a home in 61282, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
6 Days74 Days+1012.5%

Summary: Homes in 61282 had an average of 74 days on market in Oct 2024, up by 1012.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61282 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 61282; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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 61282, IL

Nearby Markets to 61282, IL