Is 61490, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61490 is a seller's market

Buyer's
Market

Difference Since August 2023

Since last year, 61490 has remained a Seller's Market.

Key Takeaway

61490 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61490, IL

How much do homes in 61490, IL cost?

Median Sold Price

$122,500

$72/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

-$49,000(-28.6%)

Key Takeaway

Homes in 61490 have sold for 28.6% less than they did a year ago.

Summary: The median home sold price in 61490 was $122,500 in August 2024, down 28.6% from last year, and the median price per square foot was $72.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 --
N/A
2 $87K$124.7K
+43.4%
3 $185K$118.9K
-35.7%
4 $146.5K$19.5K
-86.7%
5+ --
N/A

Summary: 61490 housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 43.4%, 3 bedroom homes decreased by 35.7%, 4 bedroom homes decreased by 86.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61238
+9.0%
61490
-28.6%

Housing Supply in 61490, IL

How many homes are available in 61490, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
24+100.0%

Summary: The 61490 real estate market had 4 homes for sale in August 2024, a 100.0% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 02
+100.0%
3 22
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The 61490 housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

0 Homes Were 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 61490, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in 61490 in August 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for 61490, IL

How long does it take to sell a home in 61490, IL?

Average Sale Time

Aug 2023Aug 2024CHANGE
2 Days4 Days+100.0%

Summary: Homes in 61490 had an average of 4 days on market in Aug 2024, up by 100% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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 61490 are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 1 homes were sold in 61490; 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 18 Days Ago

Newest Listings in 61490, IL

Nearby Markets to 61490, IL