Is 61821, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61821 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 61821 has remained a Seller's Market.

Key Takeaway

61821 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61821, IL

How much do homes in 61821, IL cost?

Median Sold Price

$203,000

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$33,000(+19.4%)

Key Takeaway

Homes in 61821 have sold for 19.4% more than they did a year ago.

Summary: The median home sold price in 61821 was $203,000 in November 2024, up 19.4% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $99.9K$141.5K
+41.6%
2 $142K$160K
+12.7%
3 $165K$190.8K
+15.7%
4 $215K$297.5K
+38.4%
5+ $327.5K$370K
+13.0%

Summary: 61821 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.6%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 38.4%, and 5+ bedroom homes increased by 13%.

Median Sold Price Compared To Nearby Zip Codes

61821
+19.4%
61820
+9.7%
61822
+6.4%
61874
-2.2%

Housing Supply in 61821, IL

How many homes are available in 61821, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9880-18.4%

Summary: The 61821 real estate market had 80 homes for sale in November 2024, a 18.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1412
-14.3%
3 5442
-22.2%
4 2519
-24.0%
5+ 46
+50.0%

Summary: The 61821 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 decreased by 14.3%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes decreased by 24%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3622-38.9%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61821, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in 61821 in November 2024, down by 38.9% month-over-month. Of the 22 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% were sold over asking.

Days on Market for 61821, IL

How long does it take to sell a home in 61821, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
36 Days20 Days-43.1%

Summary: Homes in 61821 had an average of 20 days on market in Nov 2024, down by 43.1% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61821 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 22 homes were sold in 61821; 77% of homes were sold within 30 days, 23% 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 23 Days Ago

Newest Listings in 61821, IL

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