Is 60656, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60656 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 60656 has remained a Seller's Market.

Key Takeaway

60656 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60656, IL

How much do homes in 60656, IL cost?

Median Sold Price

$328,333

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$7,166(-2.1%)

Key Takeaway

Homes in 60656 have sold for 2.1% less than they did a year ago.

Summary: The median home sold price in 60656 was $328,333 in May 2024, down 2.1% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $125K$136.5K
+9.2%
2 $211.5K$210.2K
-0.6%
3 $388K$410K
+5.7%
4 $437.5K$438.7K
0.3%
5+ $585.9K$665K
+13.5%

Summary: 60656 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 13.5%.

Median Sold Price Compared To Nearby Zip Codes

60706
+5.6%
60634
+4.8%
60631
+3.6%
60656
-2.1%
60176
-3.9%

Housing Supply in 60656, IL

How many homes are available in 60656, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7172+1.4%

Summary: The 60656 real estate market had 72 homes for sale in May 2024, a 1.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 66
0.0%
2 1822
+22.2%
3 3431
-8.8%
4 99
0.0%
5+ 44
0.0%

Summary: The 60656 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
2814-50.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60656, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 60656 in May 2024, down by 50.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.

Days on Market for 60656, IL

How long does it take to sell a home in 60656, IL?

Average Sale Time

May 2023May 2024CHANGE
14 Days24 Days+68.1%

Summary: Homes in 60656 had an average of 24 days on market in May 2024, up by 68.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60656 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 14 homes were sold in 60656; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% 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

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