Is 60005, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60005 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60005 has remained a Seller's Market.

Key Takeaway

60005 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60005, IL

How much do homes in 60005, IL cost?

Median Sold Price

$398,333

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$50,970(+14.7%)

Key Takeaway

Homes in 60005 have sold for 14.7% more than they did a year ago.

Summary: The median home sold price in 60005 was $398,333 in April 2024, up 14.7% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $142K$172K
+21.1%
2 $200K$230K
+15.0%
3 $379.7K$437K
+15.1%
4 $535K$625K
+16.8%
5+ $775K$561K
-27.6%

Summary: 60005 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.1%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes decreased by 27.6%.

Median Sold Price Compared To Nearby Zip Codes

60005
+14.7%
60056
+10.4%
60008
+9.7%
60007
+7.6%
60004
+7.0%

Housing Supply in 60005, IL

How many homes are available in 60005, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
10098-2.0%

Summary: The 60005 real estate market had 98 homes for sale in April 2024, a 2.0% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1010
0.0%
2 3530
-14.3%
3 2529
+16.0%
4 2523
-8.0%
5+ 56
+20.0%

Summary: The 60005 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 16%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3242+31.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60005, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 42 homes were sold or pending in 60005 in April 2024, up by 31.3% month-over-month. Of the 42 sold homes, 33% were sold under asking, 24% were sold at asking, and 43% were sold over asking.

Days on Market for 60005, IL

How long does it take to sell a home in 60005, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
14 Days14 Days+0.7%

Summary: Homes in 60005 had an average of 14 days on market in Apr 2024, up by 0.7% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60005 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 42 homes were sold in 60005; 88% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% 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 2 Days Ago

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