Is 61801, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61801 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61801 has remained a Seller's Market.

Key Takeaway

61801 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61801, IL

How much do homes in 61801, IL cost?

Median Sold Price

$170,000

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$9,500(-5.3%)

Key Takeaway

Homes in 61801 have sold for 5.3% less than they did a year ago.

Summary: The median home sold price in 61801 was $170,000 in October 2024, down 5.3% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $78.4K$83K
+5.8%
2 $122.2K$126.5K
+3.5%
3 $180K$179.9K
-0.1%
4 $245K$225K
-8.2%
5+ $238K$252K
+5.9%

Summary: 61801 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 3.5%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Zip Codes

61820
+8.7%
61802
+6.9%
61801
-5.3%

Housing Supply in 61801, IL

How many homes are available in 61801, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
66660.0%

Summary: The 61801 real estate market had 66 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 1514
-6.7%
3 2121
0.0%
4 2120
-4.8%
5+ 910
+11.1%

Summary: The 61801 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1716-5.9%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61801, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 61801 in October 2024, down by 5.9% month-over-month. Of the 16 sold homes, 56% were sold under asking, 31% were sold at asking, and 13% were sold over asking.

Days on Market for 61801, IL

How long does it take to sell a home in 61801, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days43 Days+200.1%

Summary: Homes in 61801 had an average of 43 days on market in Oct 2024, up by 200.1% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61801 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 61801; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 19% 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 20 Days Ago

Newest Listings in 61801, IL

Nearby Markets to 61801, IL