Is 60447, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60447 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60447 has remained a Seller's Market.

Key Takeaway

60447 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60447, IL

How much do homes in 60447, IL cost?

Median Sold Price

$320,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$27,500(+9.4%)

Key Takeaway

Homes in 60447 have sold for 9.4% more than they did a year ago.

Summary: The median home sold price in 60447 was $320,000 in April 2024, up 9.4% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $209K$240K
+14.8%
3 $279.9K$305.5K
+9.1%
4 $361K$355K
-1.7%
5+ $418K$520K
+24.4%

Summary: 60447 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 14.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 24.4%.

Median Sold Price Compared To Nearby Zip Codes

60586
+9.8%
60447
+9.4%
60410
+7.5%
60404
+5.1%
60431
+4.4%

Housing Supply in 60447, IL

How many homes are available in 60447, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
35350.0%

Summary: The 60447 real estate market had 35 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 88
0.0%
3 1515
0.0%
4 1211
-8.3%
5+ 01
+100.0%

Summary: The 60447 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 8.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
14140.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60447, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in 60447 in April 2024, the same as the previous month. Of the 14 sold homes, 21% were sold under asking, 7% were sold at asking, and 71% were sold over asking.

Days on Market for 60447, IL

How long does it take to sell a home in 60447, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
7 Days21 Days+171.4%

Summary: Homes in 60447 had an average of 21 days on market in Apr 2024, up by 171.4% compared to last year.

Breakdown of Home Sale Times

12 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 60447 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 14 homes were sold in 60447; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% 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 1 Day Ago

Newest Listings in 60447, IL

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