Is 61880, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61880 is a neutral's market

Buyer's
Market

Difference Since December 2023

At the same time last year, 61880 was a Seller's Market.

Key Takeaway

61880 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 61880, IL

How much do homes in 61880, IL cost?

Median Sold Price

$207,500

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$10,000(-4.6%)

Key Takeaway

Homes in 61880 have sold for 4.6% less than they did a year ago.

Summary: The median home sold price in 61880 was $207,500 in December 2024, down 4.6% from last year, and the median price per square foot was $139.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $150K$125K
-16.7%
3 $212.2K$219K
+3.2%
4 $281.2K$390K
+38.7%
5+ $214.9K-
N/A

Summary: 61880 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 16.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 38.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61874
-2.5%
61880
-4.6%

Housing Supply in 61880, IL

How many homes are available in 61880, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
87-12.5%

Summary: The 61880 real estate market had 7 homes for sale in December 2024, a 12.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 11
0.0%
3 33
0.0%
4 32
-33.3%
5+ 11
0.0%

Summary: The 61880 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
110.0%

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 61880, 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 61880 in December 2024, the same as the previous 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 61880, IL

How long does it take to sell a home in 61880, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
48 Days2 Days-95.9%

Summary: Homes in 61880 had an average of 2 days on market in Dec 2024, down by 95.9% compared to last year.

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 61880 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 1 homes were sold in 61880; 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 8 Days Ago

Newest Listings in 61880, IL

Nearby Markets to 61880, IL