Is 60408, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60408 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60408 has remained a Seller's Market.

Key Takeaway

60408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60408, IL

How much do homes in 60408, IL cost?

Median Sold Price

$260,000

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$40,000(+18.2%)

Key Takeaway

Homes in 60408 have sold for 18.2% more than they did a year ago.

Summary: The median home sold price in 60408 was $260,000 in April 2024, up 18.2% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$90K
N/A
2 $165K$197.4K
+19.7%
3 $225K$245K
+8.9%
4 $295K$304.9K
+3.4%
5+ -$385K
N/A

Summary: 60408 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60416
+19.0%
60408
+18.2%
60407
+13.1%
60481
+3.9%

Housing Supply in 60408, IL

How many homes are available in 60408, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2423-4.2%

Summary: The 60408 real estate market had 23 homes for sale in April 2024, a 4.2% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1717
0.0%
4 65
-16.7%
5+ 00
0.0%

Summary: The 60408 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
105-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60408, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in 60408 in April 2024, down by 50.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.

Days on Market for 60408, IL

How long does it take to sell a home in 60408, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
5 Days16 Days+225.2%

Summary: Homes in 60408 had an average of 16 days on market in Apr 2024, up by 225.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60408 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 5 homes were sold in 60408; 80% of homes were sold within 30 days, 20% 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 4 Days Ago

Newest Listings in 60408, IL

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