Is 61832, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61832 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 61832 has remained a Seller's Market.

Key Takeaway

61832 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61832, IL

How much do homes in 61832, IL cost?

Median Sold Price

$87,000

$60/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$2,700(-3.0%)

Key Takeaway

Homes in 61832 have sold for 3% less than they did a year ago.

Summary: The median home sold price in 61832 was $87,000 in November 2024, down 3% from last year, and the median price per square foot was $60.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $10.5K$25K
+138.1%
2 $61.5K$52K
-15.4%
3 $93.9K$108.5K
+15.5%
4 $162.5K$135K
-16.9%
5+ $167K$185K
+10.8%

Summary: 61832 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 138.1%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 15.5%, 4 bedroom homes decreased by 16.9%, and 5+ bedroom homes increased by 10.8%.

Median Sold Price Compared To Nearby Zip Codes

61858
+31.0%
61833
+1.5%
61832
-3.0%

Housing Supply in 61832, IL

How many homes are available in 61832, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9795-2.1%

Summary: The 61832 real estate market had 95 homes for sale in November 2024, a 2.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 1410
-28.6%
3 5555
0.0%
4 2125
+19.0%
5+ 53
-40.0%

Summary: The 61832 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 28.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 19%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2024+20.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61832, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in 61832 in November 2024, up by 20.0% month-over-month. Of the 24 sold homes, 67% were sold under asking, 4% were sold at asking, and 29% were sold over asking.

Days on Market for 61832, IL

How long does it take to sell a home in 61832, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
14 Days43 Days+201.0%

Summary: Homes in 61832 had an average of 43 days on market in Nov 2024, up by 201% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61832 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 24 homes were sold in 61832; 54% of homes were sold within 30 days, 33% 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 22 Days Ago

Newest Listings in 61832, IL

Nearby Markets to 61832, IL