Is 61428, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61428 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 61428 was a Seller's Market.

Key Takeaway

61428 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 61428, IL

How much do homes in 61428, IL cost?

Median Sold Price

$279,950

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$50,050(-15.2%)

Key Takeaway

Homes in 61428 have sold for 15.2% less than they did a year ago.

Summary: The median home sold price in 61428 was $279,950 in October 2024, down 15.2% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $80.5K-
N/A
2 $205K$195K
-4.9%
3 $285K$263.7K
-7.5%
4 $405K$435K
+7.4%
5+ $492.5K$523.5K
+6.3%

Summary: 61428 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 decreased by 4.9%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 6.3%.

Median Sold Price Compared To Nearby Zip Codes

61448
-6.3%
61428
-15.2%

Housing Supply in 61428, IL

How many homes are available in 61428, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1512-20.0%

Summary: The 61428 real estate market had 12 homes for sale in October 2024, a 20.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 109
-10.0%
4 33
0.0%
5+ 10
-100.0%

Summary: The 61428 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 decreased by 100%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61428, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 61428 in October 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 61428, IL

How long does it take to sell a home in 61428, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days49 Days+308.3%

Summary: Homes in 61428 had an average of 49 days on market in Oct 2024, up by 308.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 61428 has remained consistent over time.

Summary: During October 2024, 1 homes were sold in 61428; 0% of homes were sold within 30 days, 100% 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 23 Days Ago

Newest Listings in 61428, IL

Nearby Markets to 61428, IL