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 November 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

$192,250

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$22,250(+13.1%)

Key Takeaway

Homes in 61350 have sold for 13.1% more than they did a year ago.

Summary: The median home sold price in 61350 was $192,250 in November 2024, up 13.1% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $165K$325.5K
+97.3%
2 $130K$166.6K
+28.2%
3 $175K$189.9K
+8.5%
4 $218.2K$253K
+15.9%
5+ $320.5K$379K
+18.3%

Summary: 61350 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 97.3%, 2 bedroom homes increased by 28.2%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 18.3%.

Median Sold Price Compared To Nearby Zip Codes

61350
+13.1%
61341
-3.5%

Housing Supply in 61350, IL

How many homes are available in 61350, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
102107+4.9%

Summary: The 61350 real estate market had 107 homes for sale in November 2024, a 4.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 2530
+20.0%
3 5250
-3.8%
4 2020
0.0%
5+ 24
+100.0%

Summary: The 61350 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2228+27.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 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. 50% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in 61350 in November 2024, up by 27.3% month-over-month. Of the 28 sold homes, 50% were sold under asking, 11% were sold at asking, and 39% 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

Nov 2023Nov 2024CHANGE
50 Days36 Days-27.0%

Summary: Homes in 61350 had an average of 36 days on market in Nov 2024, down by 27% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 November 2024, 28 homes were sold in 61350; 68% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 4% 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 21 Days Ago

Newest Listings in 61350, IL

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