$2,018 Closing Credit*
$169,900
1,487 SqFt
3 Beds
•2 Full Baths
Adam Merrick, Listing Office: Adam Merrick Real Estate
Is 61607, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 61607 has remained a Seller's Market.
Key Takeaway
61607 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 61607, IL
How much do homes in 61607, IL cost?
Median Sold Price
$146,200
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,200(+4.4%)
Key Takeaway
Homes in 61607 have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in 61607 was $146,200 in October 2024, up 4.4% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59.8K | $74K | +23.6% |
| 2 Bedrooms | $98.9K | $95K | -4.0% |
| 3 Bedrooms | $141.5K | $159K | +12.4% |
| 4 Bedrooms | $201K | $212.5K | +5.7% |
| 5+ Bedrooms | $232.5K | $255K | +9.7% |
Summary: 61607 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 9.7%.
Housing Supply in 61607, IL
How many homes are available in 61607, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 40 | +14.3% |
Summary: The 61607 real estate market had 40 homes for sale in October 2024, a 14.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 13 | +116.7% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 61607 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 increased by 116.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 61607, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 61607 in October 2024, up by 12.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 61607, IL
How long does it take to sell a home in 61607, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 25 Days | +9.7% |
Summary: Homes in 61607 had an average of 25 days on market in Oct 2024, up by 9.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 61607 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 61607; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.