Is 60171, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60171 is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, 60171 was a Seller's Market.

Key Takeaway

60171 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60171, IL

How much do homes in 60171, IL cost?

Median Sold Price

$273,000

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$13,000(+5.0%)

Key Takeaway

Homes in 60171 have sold for 5% more than they did a year ago.

Summary: The median home sold price in 60171 was $273,000 in March 2024, up 5% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $120K$132K
+10.0%
2 $230K$200K
-13.0%
3 $297K$312.5K
+5.2%
4 $307.5K$378K
+22.9%
5+ $530K$472.5K
-10.8%

Summary: 60171 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes decreased by 10.8%.

Median Sold Price Compared To Nearby Zip Codes

60707
+11.6%
60131
+9.1%
60171
+5.0%
60634
+3.4%
60160
+2.5%

Housing Supply in 60171, IL

How many homes are available in 60171, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1726+52.9%

Summary: The 60171 real estate market had 26 homes for sale in March 2024, a 52.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 33
0.0%
2 36
+100.0%
3 68
+33.3%
4 47
+75.0%
5+ 12
+100.0%

Summary: The 60171 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 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60171, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 60171 in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 60171, IL

How long does it take to sell a home in 60171, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
12 Days57 Days+371.7%

Summary: Homes in 60171 had an average of 57 days on market in Mar 2024, up by 371.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60171 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 4 homes were sold in 60171; 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 28 Days Ago

Newest Listings in 60171, IL

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