Is 61820, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61820 is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 61820 was a Neutral Market.

Key Takeaway

61820 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61820, IL

How much do homes in 61820, IL cost?

Median Sold Price

$175,500

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,500(+9.7%)

Key Takeaway

Homes in 61820 have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in 61820 was $175,500 in November 2024, up 9.7% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $110.5K$123.7K
+12.0%
2 $145K$127K
-12.4%
3 $161.5K$181.2K
+12.2%
4 $230K$239.9K
+4.3%
5+ $246K$291K
+18.3%

Summary: 61820 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes decreased by 12.4%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 18.3%.

Median Sold Price Compared To Nearby Zip Codes

61821
+19.4%
61820
+9.7%
61822
+6.4%
61802
+2.3%
61801
-0.9%

Housing Supply in 61820, IL

How many homes are available in 61820, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5745-21.1%

Summary: The 61820 real estate market had 45 homes for sale in November 2024, a 21.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 31
-66.7%
2 168
-50.0%
3 1818
0.0%
4 1816
-11.1%
5+ 22
0.0%

Summary: The 61820 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2116-23.8%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61820, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 61820 in November 2024, down by 23.8% month-over-month. Of the 16 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.

Days on Market for 61820, IL

How long does it take to sell a home in 61820, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days36 Days+25.5%

Summary: Homes in 61820 had an average of 36 days on market in Nov 2024, up by 25.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61820 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 16 homes were sold in 61820; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 13% 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 2 Days Ago

Newest Listings in 61820, IL

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