Is 61877, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61877 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 61877 was a Seller's Market.

Key Takeaway

61877 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 61877, IL

How much do homes in 61877, IL cost?

Median Sold Price

$185,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$40,000(-17.8%)

Key Takeaway

Homes in 61877 have sold for 17.8% less than they did a year ago.

Summary: The median home sold price in 61877 was $185,000 in October 2024, down 17.8% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $110.5K$141K
+27.6%
3 $232.5K$200K
-14.0%
4 $1.3M$265K
-80.0%
5+ --
N/A

Summary: 61877 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 27.6%, 3 bedroom homes decreased by 14%, 4 bedroom homes decreased by 80%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61849
+34.6%
61877
-17.8%

Housing Supply in 61877, IL

How many homes are available in 61877, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
127-41.7%

Summary: The 61877 real estate market had 7 homes for sale in October 2024, a 41.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 20
-100.0%
3 74
-42.9%
4 33
0.0%
5+ 00
0.0%

Summary: The 61877 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 100%, 3 bedroom homes decreased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
51-80.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61877, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 61877 in October 2024, down by 80.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 61877, IL

How long does it take to sell a home in 61877, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
4 Days43 Days+975.0%

Summary: Homes in 61877 had an average of 43 days on market in Oct 2024, up by 975% 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 61877 has remained consistent over time.

Summary: During October 2024, 1 homes were sold in 61877; 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 23 Days Ago

Newest Listings in 61877, IL

Nearby Markets to 61877, IL