Home Values

61016 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$140,800

  • -1.9% 1-year change
  • 4.4% 1-year forecast

The median home value in 61016 is $140,800. 61016 home values have declined -1.9% over the past year and Zillow predicts they will rise 4.4% within the next year. The median price of homes currently listed in 61016 is $159,900 while the median price of homes that sold is $210,000.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 61016 is 3.3%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 61016 homeowners underwater on their mortgage is 20.5%, which is the same as Cherry Valley at 20.5%.

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Relative ZHVI
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61016 Market Overview

Data through Oct 31, 2014
  • $140,800 ZHVI
  • 4.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $159,900 Median listing price
  • No recent data Median sale price
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61016 Market Health

Data through Oct 31, 2014
  • 1.2/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 20.5% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
60146 $135,300
61114 $132,800
61008 $113,900
Name Median ZHVI
61107 $100,200
61111 $87,100
61109 $80,200
Name Median ZHVI
61108 $78,100
61104 $44,800
 

Listings & Sales

Data through Oct 31, 2014
  • $109 Median list price / sq ft (Sep 30, 2014)
  • No recent data Median sale price / sq ft
  • 56.1% Listings with price cut
50.3%
Sold below listing
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61016 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,167 61016
    $1,162 Cherry Valley
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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