Is 60051, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60051 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60051 has remained a Seller's Market.

Key Takeaway

60051 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60051, IL

How much do homes in 60051, IL cost?

Median Sold Price

$295,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$44,000(+17.5%)

Key Takeaway

Homes in 60051 have sold for 17.5% more than they did a year ago.

Summary: The median home sold price in 60051 was $295,000 in April 2024, up 17.5% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $106.2K$236.8K
+122.9%
2 $200K$224K
+12.0%
3 $259K$285K
+10.0%
4 $355K$395K
+11.3%
5+ $530K$526K
-0.8%

Summary: 60051 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.9%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Zip Codes

60051
+17.5%
60041
+10.7%
60050
+7.8%
60020
+7.3%
60042
0.4%

Housing Supply in 60051, IL

How many homes are available in 60051, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
9799+2.1%

Summary: The 60051 real estate market had 99 homes for sale in April 2024, a 2.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 2328
+21.7%
3 4946
-6.1%
4 2120
-4.8%
5+ 45
+25.0%

Summary: The 60051 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 increased by 21.7%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2936+24.1%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60051, you could pay more than the asking price. 47.2% of homes here sold above asking price last month.

Summary: A total of 36 homes were sold or pending in 60051 in April 2024, up by 24.1% month-over-month. Of the 36 sold homes, 39% were sold under asking, 14% were sold at asking, and 47% were sold over asking.

Days on Market for 60051, IL

How long does it take to sell a home in 60051, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
21 Days35 Days+68.9%

Summary: Homes in 60051 had an average of 35 days on market in Apr 2024, up by 68.9% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60051 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 36 homes were sold in 60051; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% 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 9 Days Ago

Newest Listings in 60051, IL

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