Is 60401, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60401 is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, 60401 was a Seller's Market.

Key Takeaway

60401 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 60401, IL

How much do homes in 60401, IL cost?

Median Sold Price

$283,437

$145/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$8,437(+3.1%)

Key Takeaway

Homes in 60401 have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in 60401 was $283,437 in March 2024, up 3.1% from last year, and the median price per square foot was $145.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $128.8K$630K
+389.1%
2 $210K$240K
+14.3%
3 $276K$285K
+3.3%
4 $329.9K$294.2K
-10.8%
5+ $246K$452.5K
+83.9%

Summary: 60401 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 389.1%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 10.8%, and 5+ bedroom homes increased by 83.9%.

Median Sold Price Compared To Nearby Zip Codes

60401
+3.1%
60417
+2.9%
60449
-2.2%

Housing Supply in 60401, IL

How many homes are available in 60401, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2530+20.0%

Summary: The 60401 real estate market had 30 homes for sale in March 2024, a 20.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 913
+44.4%
4 1616
0.0%
5+ 00
0.0%

Summary: The 60401 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 44.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60401, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 60401 in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for 60401, IL

How long does it take to sell a home in 60401, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
62 Days36 Days-41.0%

Summary: Homes in 60401 had an average of 36 days on market in Mar 2024, down by 41% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60401 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 5 homes were sold in 60401; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 22 Days Ago

Newest Listings in 60401, IL

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