Is 61462, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61462 is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, 61462 was a Seller's Market.

Key Takeaway

61462 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 61462, IL

How much do homes in 61462, IL cost?

Median Sold Price

$93,750

$137/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$8,750(+10.3%)

Key Takeaway

Homes in 61462 have sold for 10.3% more than they did a month ago.

Summary: The median home sold price in 61462 was $93,750 in October 2024, up 10.3% from last month, and the median price per square foot was $137.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $153.5K$115K
-25.1%
3 $85K-
N/A
4 -$72.5K
N/A
5+ --
N/A

Summary: 61462 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 25.1%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 61462, IL

How many homes are available in 61462, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1514-6.7%

Summary: The 61462 real estate market had 14 homes for sale in October 2024, a 6.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 65
-16.7%
3 55
0.0%
4 33
0.0%
5+ 00
0.0%

Summary: The 61462 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 16.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61462, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 61462 in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 61462, IL

How long does it take to sell a home in 61462, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
46 Days9 Days-80.4%

Summary: Homes in 61462 had an average of 9 days on market in Oct 2024, down by 80.4% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61462 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 61462; 100% of homes were sold within 30 days, 0% 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 61462, IL

Nearby Markets to 61462, IL