Is 61542, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61542 is a buyer's market

Buyer's
Market

Difference Since October 2023

Since last year, 61542 has remained a Buyer's Market.

Key Takeaway

61542 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 61542, IL

How much do homes in 61542, IL cost?

Median Sold Price

$80,000

$60/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,500(+7.4%)

Key Takeaway

Homes in 61542 have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in 61542 was $80,000 in October 2024, up 7.4% from last year, and the median price per square foot was $60.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$87.5K
N/A
2 $55.7K$68.9K
+23.8%
3 $102.5K$112K
+9.3%
4 $92K$101.7K
+10.6%
5+ $318K$112.5K
-64.6%

Summary: 61542 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 increased by 23.8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes decreased by 64.6%.

Median Sold Price Compared To Nearby Zip Codes

61542
+7.4%
62644
-9.6%

Housing Supply in 61542, IL

How many homes are available in 61542, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
990.0%

Summary: The 61542 real estate market had 9 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 66
0.0%
4 11
0.0%
5+ 00
0.0%

Summary: The 61542 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 remained the same, 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
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 61542, 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 61542 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 61542, IL

We’re sorry, we don't have information for this market at the moment

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 61542 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 1 homes were sold in 61542; 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 23 Days Ago

Newest Listings in 61542, IL

Nearby Markets to 61542, IL