Is 60188, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60188 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60188 has remained a Seller's Market.

Key Takeaway

60188 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60188, IL

How much do homes in 60188, IL cost?

Median Sold Price

$331,050

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$21,083(+6.8%)

Key Takeaway

Homes in 60188 have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in 60188 was $331,050 in April 2024, up 6.8% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $128.7K$155K
+20.4%
2 $233.5K$242.5K
+3.9%
3 $309.7K$333.7K
+7.7%
4 $398.2K$431.7K
+8.4%
5+ $589K$504K
-14.4%

Summary: 60188 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.4%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 14.4%.

Median Sold Price Compared To Nearby Zip Codes

60139
+8.4%
60187
+8.4%
60188
+6.8%
60108
+2.7%

Housing Supply in 60188, IL

How many homes are available in 60188, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8376-8.4%

Summary: The 60188 real estate market had 76 homes for sale in April 2024, a 8.4% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 32
-33.3%
2 2320
-13.0%
3 3327
-18.2%
4 2325
+8.7%
5+ 12
+100.0%

Summary: The 60188 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 13%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3821-44.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60188, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in 60188 in April 2024, down by 44.7% month-over-month. Of the 21 sold homes, 24% were sold under asking, 5% were sold at asking, and 71% were sold over asking.

Days on Market for 60188, IL

How long does it take to sell a home in 60188, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
21 Days7 Days-64.1%

Summary: Homes in 60188 had an average of 7 days on market in Apr 2024, down by 64.1% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60188 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 21 homes were sold in 60188; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 3 Days Ago

Newest Listings in 60188, IL

Nearby Markets to 60188, IL