Is 61547, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61547 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 61547 was a Neutral Market.

Key Takeaway

61547 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61547, IL

How much do homes in 61547, IL cost?

Median Sold Price

$267,500

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$22,500(+9.2%)

Key Takeaway

Homes in 61547 have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in 61547 was $267,500 in October 2024, up 9.2% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $75K$90K
+20.0%
2 $107.5K$238.2K
+121.6%
3 $205K$215K
+4.9%
4 $320K$321.2K
0.4%
5+ $339.9K$369.5K
+8.7%

Summary: 61547 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 121.6%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 8.7%.

Median Sold Price Compared To Nearby Zip Codes

61533
+48.4%
61547
+9.2%
61554
+4.7%
61607
+4.4%

Housing Supply in 61547, IL

How many homes are available in 61547, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2425+4.2%

Summary: The 61547 real estate market had 25 homes for sale in October 2024, a 4.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 1313
0.0%
4 89
+12.5%
5+ 23
+50.0%

Summary: The 61547 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 remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61547, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 61547 in October 2024, up by 80.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 44% were sold at asking, and 0% were sold over asking.

Days on Market for 61547, IL

How long does it take to sell a home in 61547, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
5 Days8 Days+53.5%

Summary: Homes in 61547 had an average of 8 days on market in Oct 2024, up by 53.5% compared to last year.

Breakdown of Home Sale Times

9 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 61547 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 61547; 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 61547, IL

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