Is 61520, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61520 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61520 has remained a Seller's Market.

Key Takeaway

61520 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61520, IL

How much do homes in 61520, IL cost?

Median Sold Price

$106,000

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,250(+14.3%)

Key Takeaway

Homes in 61520 have sold for 14.3% more than they did a year ago.

Summary: The median home sold price in 61520 was $106,000 in October 2024, up 14.3% from last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $46.2K$34.2K
-25.9%
2 $80K$69.2K
-13.5%
3 $99K$130.2K
+31.6%
4 $131K$172.5K
+31.7%
5+ $141K$214.9K
+52.4%

Summary: 61520 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.9%, 2 bedroom homes decreased by 13.5%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes increased by 52.4%.

Housing Supply in 61520, IL

How many homes are available in 61520, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5062+24.0%

Summary: The 61520 real estate market had 62 homes for sale in October 2024, a 24.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 1821
+16.7%
3 1626
+62.5%
4 1513
-13.3%
5+ 11
0.0%

Summary: The 61520 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 62.5%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1012+20.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61520, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 61520 in October 2024, up by 20.0% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 61520, IL

How long does it take to sell a home in 61520, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
23 Days55 Days+135.0%

Summary: Homes in 61520 had an average of 55 days on market in Oct 2024, up by 135% compared to last year.

Breakdown of Home Sale Times

6 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 61520 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 12 homes were sold in 61520; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 61520, IL

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