Is 60056, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60056 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60056 has remained a Seller's Market.

Key Takeaway

60056 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60056, IL

How much do homes in 60056, IL cost?

Median Sold Price

$380,000

$221/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$36,375(+10.6%)

Key Takeaway

Homes in 60056 have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in 60056 was $380,000 in March 2024, up 10.6% from last year, and the median price per square foot was $221.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $123K$155K
+26.0%
2 $205K$260K
+26.8%
3 $369.1K$384.9K
+4.3%
4 $476.3K$495K
+3.9%
5+ $545K$570K
+4.6%

Summary: 60056 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26%, 2 bedroom homes increased by 26.8%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 4.6%.

Median Sold Price Compared To Nearby Zip Codes

60005
+12.5%
60056
+10.6%
60070
+7.0%
60004
+6.1%
60016
+5.6%

Housing Supply in 60056, IL

How many homes are available in 60056, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
115129+12.2%

Summary: The 60056 real estate market had 129 homes for sale in March 2024, a 12.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 139
-30.8%
2 2128
+33.3%
3 5559
+7.3%
4 2026
+30.0%
5+ 67
+16.7%

Summary: The 60056 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30.8%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3537+5.7%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60056, you could pay more than the asking price. 47.2% of homes here sold above asking price last month.

Summary: A total of 37 homes were sold or pending in 60056 in March 2024, up by 5.7% month-over-month. Of the 36 sold homes, 42% were sold under asking, 11% were sold at asking, and 47% were sold over asking.

Days on Market for 60056, IL

How long does it take to sell a home in 60056, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days28 Days-32.9%

Summary: Homes in 60056 had an average of 28 days on market in Mar 2024, down by 32.9% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60056 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 37 homes were sold in 60056; 76% of homes were sold within 30 days, 19% 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 25 Days Ago

Newest Listings in 60056, IL

Nearby Markets to 60056, IL