Is 60416, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 60416 has remained a Seller's Market.
Housing Prices in 60416, IL
How much do homes in 60416, IL cost?
Median Sold Price
$250,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 60416 was $250,000 in April 2024, up 19% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $82.4K | N/A |
2 Bedrooms | $164K | $204K | +24.4% |
3 Bedrooms | $210K | $248.7K | +18.4% |
4 Bedrooms | $317.5K | $372K | +17.2% |
5+ Bedrooms | $652.5K | $405K | -37.9% |
Summary: 60416 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 24.4%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes decreased by 37.9%.
Housing Supply in 60416, IL
How many homes are available in 60416, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 27 | +17.4% |
Summary: The 60416 real estate market had 27 homes for sale in April 2024, a 17.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 14 | 13 | -7.1% |
4 Bedrooms | 4 | 8 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 60416 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 increased by 25%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 60416 in April 2024, down by 11.1% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for 60416, IL
How long does it take to sell a home in 60416, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 41 Days | +94.7% |
Summary: Homes in 60416 had an average of 41 days on market in Apr 2024, up by 94.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in 60416; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.