Is 61842, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61842 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 61842 was a Seller's Market.

Key Takeaway

61842 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 61842, IL

How much do homes in 61842, IL cost?

Median Sold Price

$183,000

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$45,000(+32.6%)

Key Takeaway

Homes in 61842 have sold for 32.6% more than they did a year ago.

Summary: The median home sold price in 61842 was $183,000 in October 2024, up 32.6% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $124.1K$119.9K
-3.3%
3 $148K$155K
+4.7%
4 $133.9K$244.9K
+82.9%
5+ -$120K
N/A

Summary: 61842 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 82.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61842
+32.6%
61752
+16.4%

Housing Supply in 61842, IL

How many homes are available in 61842, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
10100.0%

Summary: The 61842 real estate market had 10 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 77
0.0%
4 22
0.0%
5+ 00
0.0%

Summary: The 61842 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61842, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 61842 in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 61842, IL

How long does it take to sell a home in 61842, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
22 Days63 Days+182.1%

Summary: Homes in 61842 had an average of 63 days on market in Oct 2024, up by 182.1% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 61842 has remained consistent over time.

Summary: During October 2024, 1 homes were sold in 61842; 0% of homes were sold within 30 days, 100% 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 21 Days Ago

Newest Listings in 61842, IL

Nearby Markets to 61842, IL