Is 61938, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61938 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 61938 has remained a Seller's Market.

Key Takeaway

61938 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61938, IL

How much do homes in 61938, IL cost?

Median Sold Price

$120,000

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$6,400(+5.6%)

Key Takeaway

Homes in 61938 have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in 61938 was $120,000 in December 2024, up 5.6% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $130.5K$90K
-31.0%
2 $80K$82K
+2.5%
3 $117.5K$133.5K
+13.6%
4 $155K$205K
+32.3%
5+ $408.8K$188K
-54.0%

Summary: 61938 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 32.3%, and 5+ bedroom homes decreased by 54%.

Housing Supply in 61938, IL

How many homes are available in 61938, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
6665-1.5%

Summary: The 61938 real estate market had 65 homes for sale in December 2024, a 1.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 01
+100.0%
2 1713
-23.5%
3 3436
+5.9%
4 1213
+8.3%
5+ 32
-33.3%

Summary: The 61938 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 23.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1325+92.3%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 61938, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 61938 in December 2024, up by 92.3% month-over-month. Of the 25 sold homes, 60% were sold under asking, 28% were sold at asking, and 12% were sold over asking.

Days on Market for 61938, IL

How long does it take to sell a home in 61938, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
24 Days27 Days+11.5%

Summary: Homes in 61938 had an average of 27 days on market in Dec 2024, up by 11.5% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 61938 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 25 homes were sold in 61938; 64% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% 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 2 Days Ago

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