Is 60040, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60040 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60040 has remained a Seller's Market.

Key Takeaway

60040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60040, IL

How much do homes in 60040, IL cost?

Median Sold Price

$430,000

$249/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$65,000(+17.8%)

Key Takeaway

Homes in 60040 have sold for 17.8% more than they did a year ago.

Summary: The median home sold price in 60040 was $430,000 in April 2024, up 17.8% from last year, and the median price per square foot was $249.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $265K$387.5K
+46.2%
3 $525K$330K
-37.1%
4 $448.5K$574.5K
+28.1%
5+ $423K$448K
+5.9%

Summary: 60040 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 46.2%, 3 bedroom homes decreased by 37.1%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Zip Codes

60040
+17.8%
60035
+4.7%
60045
0.3%

Housing Supply in 60040, IL

How many homes are available in 60040, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
56+20.0%

Summary: The 60040 real estate market had 6 homes for sale in April 2024, a 20.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 22
0.0%
3 23
+50.0%
4 11
0.0%
5+ 00
0.0%

Summary: The 60040 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60040, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in 60040 in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for 60040, IL

How long does it take to sell a home in 60040, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
19 Days66 Days+241.0%

Summary: Homes in 60040 had an average of 66 days on market in Apr 2024, up by 241% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60040 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 2 homes were sold in 60040; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 60040, IL

Nearby Markets to 60040, IL