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 21 Days Ago

Newest Listings in 61604, IL

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