Is 60478, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60478 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60478 has remained a Seller's Market.

Key Takeaway

60478 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60478, IL

How much do homes in 60478, IL cost?

Median Sold Price

$189,900

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$5,100(-2.6%)

Key Takeaway

Homes in 60478 have sold for 2.6% less than they did a year ago.

Summary: The median home sold price in 60478 was $189,900 in April 2024, down 2.6% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $270K$45K
-83.3%
2 $135.8K$142.4K
+4.8%
3 $195.5K$180K
-7.9%
4 $213K$207.9K
-2.4%
5+ $253.5K$290.8K
+14.7%

Summary: 60478 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 83.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 14.7%.

Median Sold Price Compared To Nearby Zip Codes

60429
+12.9%
60428
+12.8%
60477
+9.3%
60422
+1.8%
60478
-2.6%

Housing Supply in 60478, IL

How many homes are available in 60478, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
101130+28.7%

Summary: The 60478 real estate market had 130 homes for sale in April 2024, a 28.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 22
0.0%
2 1111
0.0%
3 5673
+30.4%
4 2536
+44.0%
5+ 78
+14.3%

Summary: The 60478 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 increased by 30.4%, 4 bedroom homes increased by 44%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2128+33.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60478, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in 60478 in April 2024, up by 33.3% month-over-month. Of the 28 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% were sold over asking.

Days on Market for 60478, IL

How long does it take to sell a home in 60478, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
60 Days61 Days+0.8%

Summary: Homes in 60478 had an average of 61 days on market in Apr 2024, up by 0.8% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60478 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 28 homes were sold in 60478; 43% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 21% 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 5 Days Ago

Newest Listings in 60478, IL

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