Is 61341, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61341 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61341 has remained a Seller's Market.

Key Takeaway

61341 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61341, IL

How much do homes in 61341, IL cost?

Median Sold Price

$179,000

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$21,000(-10.5%)

Key Takeaway

Homes in 61341 have sold for 10.5% less than they did a year ago.

Summary: The median home sold price in 61341 was $179,000 in October 2024, down 10.5% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $47K$301.2K
+541.0%
2 $140K$135.2K
-3.4%
3 $231.7K$210.2K
-9.3%
4 $285K$205K
-28.1%
5+ $100K$380K
+280.0%

Summary: 61341 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 541%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 28.1%, and 5+ bedroom homes increased by 280%.

Median Sold Price Compared To Nearby Zip Codes

61350
+12.9%
61360
+7.8%
61341
-10.5%

Housing Supply in 61341, IL

How many homes are available in 61341, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2429+20.8%

Summary: The 61341 real estate market had 29 homes for sale in October 2024, a 20.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 88
0.0%
3 1211
-8.3%
4 47
+75.0%
5+ 02
+100.0%

Summary: The 61341 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61341, 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 61341 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for 61341, IL

How long does it take to sell a home in 61341, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
57 Days38 Days-32.9%

Summary: Homes in 61341 had an average of 38 days on market in Oct 2024, down by 32.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61341 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 61341; 50% of homes were sold within 30 days, 50% 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 20 Days Ago

Newest Listings in 61341, IL

Nearby Markets to 61341, IL