Is 61604, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61604 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61604 has remained a Seller's Market.

Key Takeaway

61604 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61604, IL

How much do homes in 61604, IL cost?

Median Sold Price

$94,950

$75/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+5.6%)

Key Takeaway

Homes in 61604 have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in 61604 was $94,950 in October 2024, up 5.6% from last year, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $41.4K$42.4K
+2.5%
2 $69.9K$74K
+5.9%
3 $105K$121.8K
+16.0%
4 $143K$113K
-21.0%
5+ $130K$117.4K
-9.7%

Summary: 61604 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 16%, 4 bedroom homes decreased by 21%, and 5+ bedroom homes decreased by 9.7%.

Median Sold Price Compared To Nearby Zip Codes

61603
+13.3%
61604
+5.6%
61605
-5.9%
61606
-16.7%

Housing Supply in 61604, IL

How many homes are available in 61604, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
153152-0.7%

Summary: The 61604 real estate market had 152 homes for sale in October 2024, a 0.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 4648
+4.3%
3 8675
-12.8%
4 1624
+50.0%
5+ 12
+100.0%

Summary: The 61604 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 4.3%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4743-8.5%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61604, you may be able to get a good deal. 51.2% of homes here sold below asking price last month.

Summary: A total of 43 homes were sold or pending in 61604 in October 2024, down by 8.5% month-over-month. Of the 43 sold homes, 51% were sold under asking, 19% were sold at asking, and 30% were sold over asking.

Days on Market for 61604, IL

How long does it take to sell a home in 61604, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
30 Days13 Days-55.4%

Summary: Homes in 61604 had an average of 13 days on market in Oct 2024, down by 55.4% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61604 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 43 homes were sold in 61604; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 2% 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 61604, IL

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