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 4 Days Ago

Newest Listings in 61341, IL

Nearby Markets to 61341, IL