Is 61727, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61727 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61727 has remained a Seller's Market.

Key Takeaway

61727 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61727, IL

How much do homes in 61727, IL cost?

Median Sold Price

$129,250

$89/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$2,000(+1.6%)

Key Takeaway

Homes in 61727 have sold for 1.6% more than they did a year ago.

Summary: The median home sold price in 61727 was $129,250 in October 2024, up 1.6% from last year, and the median price per square foot was $89.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $37.5K$79.9K
+113.1%
2 $82.5K$98K
+18.8%
3 $149.4K$133.7K
-10.5%
4 $220K$157K
-28.6%
5+ $158K$233.5K
+47.8%

Summary: 61727 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 113.1%, 2 bedroom homes increased by 18.8%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 47.8%.

Housing Supply in 61727, IL

How many homes are available in 61727, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2629+11.5%

Summary: The 61727 real estate market had 29 homes for sale in October 2024, a 11.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 76
-14.3%
3 1316
+23.1%
4 46
+50.0%
5+ 11
0.0%

Summary: The 61727 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61727, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 61727 in October 2024, down by 25.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 61727, IL

How long does it take to sell a home in 61727, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
30 Days28 Days-8.5%

Summary: Homes in 61727 had an average of 28 days on market in Oct 2024, down by 8.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61727 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 61727; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% 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 5 Days Ago

Newest Listings in 61727, IL

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