Is 61301, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61301 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61301 has remained a Seller's Market.

Key Takeaway

61301 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61301, IL

How much do homes in 61301, IL cost?

Median Sold Price

$129,200

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$2,200(+1.7%)

Key Takeaway

Homes in 61301 have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in 61301 was $129,200 in October 2024, up 1.7% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$72K
N/A
2 $89.9K$105K
+16.8%
3 $149.9K$150.5K
0.4%
4 $112.2K$129.9K
+15.7%
5+ $164.4K$186.5K
+13.4%

Summary: 61301 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 13.4%.

Median Sold Price Compared To Nearby Zip Codes

61342
+36.4%
61348
+25.0%
61354
+4.4%
61301
+1.7%

Housing Supply in 61301, IL

How many homes are available in 61301, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2531+24.0%

Summary: The 61301 real estate market had 31 homes for sale in October 2024, a 24.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 47
+75.0%
3 1414
0.0%
4 55
0.0%
5+ 25
+150.0%

Summary: The 61301 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 75%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 150%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
106-40.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

5 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61301, expect to pay close to the asking price. 83.3% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in 61301 in October 2024, down by 40.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 83% were sold at asking, and 0% were sold over asking.

Days on Market for 61301, IL

How long does it take to sell a home in 61301, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days6 Days-60.8%

Summary: Homes in 61301 had an average of 6 days on market in Oct 2024, down by 60.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61301 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 61301; 100% of homes were sold within 30 days, 0% 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 14 Days Ago

Newest Listings in 61301, IL

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