Is 61883, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61883 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 61883 was a Buyer's Market.

Key Takeaway

61883 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61883, IL

How much do homes in 61883, IL cost?

Median Sold Price

$85,000

-

Based on all homes sold in November 2024.

Difference Since Last Month

-$39,000(-31.5%)

Key Takeaway

Homes in 61883 have sold for 31.5% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $124K$81K
-34.7%
3 -$206K
N/A
4 --
N/A
5+ --
N/A

Summary: 61883 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 34.7%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

61834
+22.4%
61883
-31.5%

Housing Supply in 61883, IL

How many homes are available in 61883, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1115+36.4%

Summary: The 61883 real estate market had 15 homes for sale in November 2024, a 36.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 79
+28.6%
4 12
+100.0%
5+ 00
0.0%

Summary: The 61883 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61883, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 61883 in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for 61883, IL

How long does it take to sell a home in 61883, IL?

Breakdown of Home Sale Times

3 Homes Were 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 61883 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 3 homes were sold in 61883; 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 21 Days Ago

Newest Listings in 61883, IL

Nearby Markets to 61883, IL