Is 61350, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61350 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61350 has remained a Seller's Market.

Key Takeaway

61350 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61350, IL

How much do homes in 61350, IL cost?

Median Sold Price

$192,000

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$22,000(+12.9%)

Key Takeaway

Homes in 61350 have sold for 12.9% more than they did a year ago.

Summary: The median home sold price in 61350 was $192,000 in October 2024, up 12.9% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $66K$325.5K
+393.2%
2 $130K$160K
+23.1%
3 $170K$189.9K
+11.7%
4 $227.5K$256K
+12.5%
5+ $320.5K$409.5K
+27.8%

Summary: 61350 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 393.2%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 27.8%.

Median Sold Price Compared To Nearby Zip Codes

61350
+12.9%
61341
-10.5%

Housing Supply in 61350, IL

How many homes are available in 61350, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
84107+27.4%

Summary: The 61350 real estate market had 107 homes for sale in October 2024, a 27.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 2227
+22.7%
3 4152
+26.8%
4 1821
+16.7%
5+ 24
+100.0%

Summary: The 61350 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 22.7%, 3 bedroom homes increased by 26.8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1820+11.1%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61350, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in 61350 in October 2024, up by 11.1% month-over-month. Of the 20 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% were sold over asking.

Days on Market for 61350, IL

How long does it take to sell a home in 61350, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days40 Days+148.7%

Summary: Homes in 61350 had an average of 40 days on market in Oct 2024, up by 148.7% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61350 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 20 homes were sold in 61350; 70% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% 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 61350, IL

Nearby Markets to 61350, IL