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 20 Days Ago

Newest Listings in 61282, IL

Nearby Markets to 61282, IL