Is 61846, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61846 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 61846 has remained a Seller's Market.

Key Takeaway

61846 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61846, IL

How much do homes in 61846, IL cost?

Median Sold Price

$81,000

$52/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$5,250(-6.1%)

Key Takeaway

Homes in 61846 have sold for 6.1% less than they did a year ago.

Summary: The median home sold price in 61846 was $81,000 in December 2024, down 6.1% from last year, and the median price per square foot was $52.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $58.3K$56K
-4.0%
3 $92.9K$92K
-1.0%
4 $142.3K$160K
+12.4%
5+ -$83K
N/A

Summary: 61846 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61883
+1.6%
61846
-6.1%

Housing Supply in 61846, IL

How many homes are available in 61846, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1312-7.7%

Summary: The 61846 real estate market had 12 homes for sale in December 2024, a 7.7% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 64
-33.3%
4 22
0.0%
5+ 00
0.0%

Summary: The 61846 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

3 Homes Were 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 61846, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 61846 in December 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 61846, IL

How long does it take to sell a home in 61846, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
88 Days37 Days-57.9%

Summary: Homes in 61846 had an average of 37 days on market in Dec 2024, down by 57.9% compared to last year.

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 61846 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 3 homes were sold in 61846; 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 4 Days Ago

Newest Listings in 61846, IL

Nearby Markets to 61846, IL