Is 60712, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60712 is a neutral's market

Buyer's
Market

Difference Since August 2023

At the same time last year, 60712 was a Seller's Market.

Key Takeaway

60712 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60712, IL

How much do homes in 60712, IL cost?

Median Sold Price

$500,000

$252/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$20,000(+4.2%)

Key Takeaway

Homes in 60712 have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in 60712 was $500,000 in August 2024, up 4.2% from last year, and the median price per square foot was $252.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $217.5K-
N/A
2 $309K$311.2K
+0.7%
3 $464K$460.5K
-0.8%
4 $646.5K$699.9K
+8.3%
5+ $860K$1.2M
+45.9%

Summary: 60712 housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 45.9%.

Median Sold Price Compared To Nearby Zip Codes

60645
+33.8%
60076
+7.3%
60077
+5.5%
60712
+4.2%

Housing Supply in 60712, IL

How many homes are available in 60712, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
3643+19.4%

Summary: The 60712 real estate market had 43 homes for sale in August 2024, a 19.4% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 01
+100.0%
2 56
+20.0%
3 1619
+18.8%
4 1114
+27.3%
5+ 43
-25.0%

Summary: The 60712 housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
127-41.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60712, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 60712 in August 2024, down by 41.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.

Days on Market for 60712, IL

How long does it take to sell a home in 60712, IL?

Average Sale Time

Aug 2023Aug 2024CHANGE
43 Days21 Days-51.8%

Summary: Homes in 60712 had an average of 21 days on market in Aug 2024, down by 51.8% compared to last year.

Breakdown of Home Sale Times

6 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 60712 are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 7 homes were sold in 60712; 86% of homes were sold within 30 days, 14% 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 19 Days Ago

Newest Listings in 60712, IL

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