Is 60048, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 60048 has remained a Seller's Market.
Housing Prices in 60048, IL
How much do homes in 60048, IL cost?
Median Sold Price
$552,500
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 60048 was $552,500 in March 2024, up 5.2% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $118.5K | $141K | +19.0% |
2 Bedrooms | $290.6K | $230K | -20.9% |
3 Bedrooms | $399.5K | $380K | -4.9% |
4 Bedrooms | $600K | $620K | +3.3% |
5+ Bedrooms | $790K | $766.5K | -3.0% |
Summary: 60048 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes decreased by 20.9%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 3%.
Housing Supply in 60048, IL
How many homes are available in 60048, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
86 | 95 | +10.5% |
Summary: The 60048 real estate market had 95 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 19 | 22 | +15.8% |
4 Bedrooms | 44 | 49 | +11.4% |
5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The 60048 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 remained the same, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 22 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in 60048 in March 2024, the same as the previous month. Of the 22 sold homes, 41% were sold under asking, 18% were sold at asking, and 41% were sold over asking.
Days on Market for 60048, IL
How long does it take to sell a home in 60048, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
27 Days | 14 Days | -46.1% |
Summary: Homes in 60048 had an average of 14 days on market in Mar 2024, down by 46.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 22 homes were sold in 60048; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.