Is 60638, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60638 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 60638 has remained a Seller's Market.

Key Takeaway

60638 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60638, IL

How much do homes in 60638, IL cost?

Median Sold Price

$307,429

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,429(+4.2%)

Key Takeaway

Homes in 60638 have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in 60638 was $307,429 in May 2024, up 4.2% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $110K$119.9K
+9.0%
2 $200.7K$222K
+10.6%
3 $300K$312.5K
+4.2%
4 $349.9K$352.5K
+0.7%
5+ $425K$450K
+5.9%

Summary: 60638 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Zip Codes

60501
+10.3%
60459
+5.7%
60638
+4.2%
60629
+3.8%

Housing Supply in 60638, IL

How many homes are available in 60638, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
132145+9.8%

Summary: The 60638 real estate market had 145 homes for sale in May 2024, a 9.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 65
-16.7%
2 2227
+22.7%
3 7473
-1.4%
4 1828
+55.6%
5+ 1212
0.0%

Summary: The 60638 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 22.7%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
4233-21.4%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60638, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in 60638 in May 2024, down by 21.4% month-over-month. Of the 33 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% were sold over asking.

Days on Market for 60638, IL

How long does it take to sell a home in 60638, IL?

Average Sale Time

May 2023May 2024CHANGE
31 Days15 Days-51.5%

Summary: Homes in 60638 had an average of 15 days on market in May 2024, down by 51.5% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60638 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 33 homes were sold in 60638; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% 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 1 Day Ago

Newest Listings in 60638, IL

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