Is 60448, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60448 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60448 has remained a Seller's Market.

Key Takeaway

60448 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60448, IL

How much do homes in 60448, IL cost?

Median Sold Price

$387,500

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$37,500(+10.7%)

Key Takeaway

Homes in 60448 have sold for 10.7% more than they did a year ago.

Summary: The median home sold price in 60448 was $387,500 in March 2024, up 10.7% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $110K$129K
+17.3%
2 $245K$270K
+10.2%
3 $315K$330K
+4.8%
4 $540K$520K
-3.7%
5+ $552.5K$657.5K
+19.0%

Summary: 60448 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.3%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 19%.

Median Sold Price Compared To Nearby Zip Codes

60448
+10.7%
60451
+10.3%
60487
+4.9%
60423
+3.0%
60467
-0.3%

Housing Supply in 60448, IL

How many homes are available in 60448, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6876+11.8%

Summary: The 60448 real estate market had 76 homes for sale in March 2024, a 11.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 20
-100.0%
2 1314
+7.7%
3 2324
+4.3%
4 1620
+25.0%
5+ 1418
+28.6%

Summary: The 60448 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1326+100.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60448, you may be able to get a good deal. 34.6% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in 60448 in March 2024, up by 100.0% month-over-month. Of the 26 sold homes, 35% were sold under asking, 31% were sold at asking, and 35% were sold over asking.

Days on Market for 60448, IL

How long does it take to sell a home in 60448, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
19 Days16 Days-18.1%

Summary: Homes in 60448 had an average of 16 days on market in Mar 2024, down by 18.1% compared to last year.

Breakdown of Home Sale Times

24 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 60448 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 26 homes were sold in 60448; 92% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% 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 29 Days Ago

Newest Listings in 60448, IL

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