Is 60047, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60047 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60047 has remained a Seller's Market.

Key Takeaway

60047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60047, IL

How much do homes in 60047, IL cost?

Median Sold Price

$579,960

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$17,460(+3.1%)

Key Takeaway

Homes in 60047 have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in 60047 was $579,960 in March 2024, up 3.1% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $140K-
N/A
2 $262K$270K
+3.1%
3 $370.5K$407.5K
+10.0%
4 $625.3K$645K
+3.1%
5+ $775K$799.5K
+3.2%

Summary: 60047 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Zip Codes

60060
+13.8%
60061
+4.9%
60047
+3.1%
60074
+2.7%
60089
+1.9%

Housing Supply in 60047, IL

How many homes are available in 60047, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
130156+20.0%

Summary: The 60047 real estate market had 156 homes for sale in March 2024, a 20.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1415
+7.1%
3 3338
+15.2%
4 5670
+25.0%
5+ 2733
+22.2%

Summary: The 60047 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2740+48.1%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60047, you could pay more than the asking price. 47.5% of homes here sold above asking price last month.

Summary: A total of 40 homes were sold or pending in 60047 in March 2024, up by 48.1% month-over-month. Of the 40 sold homes, 35% were sold under asking, 18% were sold at asking, and 48% were sold over asking.

Days on Market for 60047, IL

How long does it take to sell a home in 60047, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
33 Days29 Days-11.1%

Summary: Homes in 60047 had an average of 29 days on market in Mar 2024, down by 11.1% compared to last year.

Breakdown of Home Sale Times

33 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60047 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 40 homes were sold in 60047; 83% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 15% 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 18 Days Ago

Newest Listings in 60047, IL

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