Is 61568, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61568 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 61568 was a Seller's Market.

Key Takeaway

61568 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 61568, IL

How much do homes in 61568, IL cost?

Median Sold Price

$185,750

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$14,250(-7.1%)

Key Takeaway

Homes in 61568 have sold for 7.1% less than they did a year ago.

Summary: The median home sold price in 61568 was $185,750 in October 2024, down 7.1% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $117K$168K
+43.6%
3 $168K$175K
+4.2%
4 $290K$281K
-3.1%
5+ $411K-
N/A

Summary: 61568 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 43.6%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61734
+33.3%
61554
+4.7%
61535
0.0%
61568
-7.1%

Housing Supply in 61568, IL

How many homes are available in 61568, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1513-13.3%

Summary: The 61568 real estate market had 13 homes for sale in October 2024, a 13.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 42
-50.0%
3 54
-20.0%
4 45
+25.0%
5+ 22
0.0%

Summary: The 61568 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 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61568, 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 61568 in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 61568, IL

How long does it take to sell a home in 61568, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days27 Days+57.1%

Summary: Homes in 61568 had an average of 27 days on market in Oct 2024, up by 57.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61568 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 61568; 50% of homes were sold within 30 days, 50% 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 22 Days Ago

Newest Listings in 61568, IL

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