Is 61866, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61866 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61866 has remained a Seller's Market.

Key Takeaway

61866 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61866, IL

How much do homes in 61866, IL cost?

Median Sold Price

$128,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$6,250(+5.1%)

Key Takeaway

Homes in 61866 have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in 61866 was $128,000 in October 2024, up 5.1% from last year, and the median price per square foot was $98.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $65K-
N/A
2 $82.9K$104.2K
+25.7%
3 $121.5K$135K
+11.1%
4 $159K$130K
-18.2%
5+ $173K$159.9K
-7.6%

Summary: 61866 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 increased by 25.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 7.6%.

Housing Supply in 61866, IL

How many homes are available in 61866, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2721-22.2%

Summary: The 61866 real estate market had 21 homes for sale in October 2024, a 22.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 1712
-29.4%
4 53
-40.0%
5+ 00
0.0%

Summary: The 61866 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 increased by 20%, 3 bedroom homes decreased by 29.4%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
137-46.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61866, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 61866 in October 2024, down by 46.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for 61866, IL

How long does it take to sell a home in 61866, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days12 Days-24.9%

Summary: Homes in 61866 had an average of 12 days on market in Oct 2024, down by 24.9% compared to last year.

Breakdown of Home Sale Times

6 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

Many homes in 61866 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 7 homes were sold in 61866; 86% of homes were sold within 30 days, 14% 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 4 Days Ago

Newest Listings in 61866, IL

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