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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61832 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 61832 was a Seller's Market.

Key Takeaway

61832 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 61832, IL

How much do homes in 61832, IL cost?

Median Sold Price

$66,000

$47/sqft

Based on all homes sold in October 2024.

The Median Sold Price hasn't changed since September 2024.

Key Takeaway

The sold price of homes in 61832 has remained the same since last month.

Summary: The median home sold price in 61832 was $66,000 in October 2024, the same as last month, and the median price per square foot was $47.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $40.4K$17.4K
-57.0%
3 $165K$93K
-43.6%
4 $42K-
N/A
5+ --
N/A

Summary: 61832 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 57%, 3 bedroom homes decreased by 43.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 61832, IL

How many homes are available in 61832, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
23230.0%

Summary: The 61832 real estate market had 23 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 54
-20.0%
3 1213
+8.3%
4 43
-25.0%
5+ 12
+100.0%

Summary: The 61832 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61832, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in 61832 in October 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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

Sep 2024Oct 2024CHANGE
75 Days34 Days-54.1%

Summary: Homes in 61832 had an average of 34 days on market in Oct 2024, down by 54.1% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 October 2024, 3 homes were sold in 61832; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 21 Days Ago

Newest Listings in 61832, IL

Nearby Markets to 61832, IL