Is 61878, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61878 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 61878 has remained a Seller's Market.

Key Takeaway

61878 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61878, IL

How much do homes in 61878, IL cost?

Median Sold Price

$179,900

$124/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$47,800(-21.0%)

Key Takeaway

Homes in 61878 have sold for 21% less than they did a month ago.

Summary: The median home sold price in 61878 was $179,900 in October 2024, down 21% from last month, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $195.4K-
N/A
3 -$179.9K
N/A
4 --
N/A
5+ $260K-
N/A

Summary: 61878 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 did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 61878, IL

How many homes are available in 61878, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
550.0%

Summary: The 61878 real estate market had 5 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 10
-100.0%
3 34
+33.3%
4 01
+100.0%
5+ 10
-100.0%

Summary: The 61878 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 increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61878, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in 61878 in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for 61878, IL

How long does it take to sell a home in 61878, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
6 Days8 Days+33.3%

Summary: Homes in 61878 had an average of 8 days on market in Oct 2024, up by 33.3% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61878 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 1 homes were sold in 61878; 100% of homes were sold within 30 days, 0% 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 61878, IL

Nearby Markets to 61878, IL