Is 61748, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61748 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 61748 has remained a Seller's Market.

Key Takeaway

61748 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61748, IL

How much do homes in 61748, IL cost?

Median Sold Price

$286,000

$123/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$44,000(-13.3%)

Key Takeaway

Homes in 61748 have sold for 13.3% less than they did a month ago.

Summary: The median home sold price in 61748 was $286,000 in November 2024, down 13.3% from last month, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 $335K$286K
-14.6%
4 $317.5K-
N/A
5+ --
N/A

Summary: 61748 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 14.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61748
-13.3%
61776
-30.6%

Housing Supply in 61748, IL

How many homes are available in 61748, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
75-28.6%

Summary: The 61748 real estate market had 5 homes for sale in November 2024, a 28.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 43
-25.0%
4 10
-100.0%
5+ 11
0.0%

Summary: The 61748 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
31-66.7%

Asking Price vs. Sold Price

0 Homes Were 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 61748, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 61748 in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 61748, IL

How long does it take to sell a home in 61748, IL?

Average Sale Time

Oct 2024Nov 2024CHANGE
6 Days7 Days+16.7%

Summary: Homes in 61748 had an average of 7 days on market in Nov 2024, up by 16.7% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61748 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1 homes were sold in 61748; 100% of homes were sold within 30 days, 0% 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 17 Days Ago

Newest Listings in 61748, IL

Nearby Markets to 61748, IL