Is 60431, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60431 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60431 has remained a Seller's Market.

Key Takeaway

60431 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60431, IL

How much do homes in 60431, IL cost?

Median Sold Price

$316,601

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$13,380(+4.4%)

Key Takeaway

Homes in 60431 have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in 60431 was $316,601 in April 2024, up 4.4% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$116K
N/A
2 $238.2K$250K
+4.9%
3 $295.2K$315K
+6.7%
4 $375.2K$380K
+1.3%
5+ $395K$423K
+7.1%

Summary: 60431 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 4.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 7.1%.

Median Sold Price Compared To Nearby Zip Codes

60435
+10.1%
60586
+9.8%
60544
+6.7%
60404
+5.1%
60431
+4.4%

Housing Supply in 60431, IL

How many homes are available in 60431, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
7386+17.8%

Summary: The 60431 real estate market had 86 homes for sale in April 2024, a 17.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 912
+33.3%
3 4339
-9.3%
4 1929
+52.6%
5+ 26
+200.0%

Summary: The 60431 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 33.3%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes increased by 52.6%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
27270.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60431, you could pay more than the asking price. 59.3% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in 60431 in April 2024, the same as the previous month. Of the 27 sold homes, 22% were sold under asking, 19% were sold at asking, and 59% were sold over asking.

Days on Market for 60431, IL

How long does it take to sell a home in 60431, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
23 Days16 Days-30.2%

Summary: Homes in 60431 had an average of 16 days on market in Apr 2024, down by 30.2% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60431 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 27 homes were sold in 60431; 85% of homes were sold within 30 days, 15% 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 9 Days Ago

Newest Listings in 60431, IL

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