Is 61956, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 61956 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 61956 has remained a Seller's Market.

Key Takeaway

61956 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 61956, IL

How much do homes in 61956, IL cost?

Median Sold Price

$132,000

$93/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$41,500(+45.9%)

Key Takeaway

Homes in 61956 have sold for 45.9% more than they did a year ago.

Summary: The median home sold price in 61956 was $132,000 in October 2024, up 45.9% from last year, and the median price per square foot was $93.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $69.5K$69K
-0.7%
3 $126K$130K
+3.2%
4 $192.5K$215K
+11.7%
5+ $137.5K$205K
+49.1%

Summary: 61956 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 decreased by 0.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 49.1%.

Housing Supply in 61956, IL

How many homes are available in 61956, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1416+14.3%

Summary: The 61956 real estate market had 16 homes for sale in October 2024, a 14.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 89
+12.5%
4 24
+100.0%
5+ 21
-50.0%

Summary: The 61956 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
36+100.0%

Asking Price vs. Sold Price

4 Homes Were 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 61956, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 61956 in October 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 61956, IL

How long does it take to sell a home in 61956, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days18 Days+15.6%

Summary: Homes in 61956 had an average of 18 days on market in Oct 2024, up by 15.6% compared to last year.

Breakdown of Home Sale Times

5 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

Many homes in 61956 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 61956; 83% of homes were sold within 30 days, 17% 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

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