Is 60481, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60481 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60481 has remained a Seller's Market.

Key Takeaway

60481 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60481, IL

How much do homes in 60481, IL cost?

Median Sold Price

$187,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$7,000(+3.9%)

Key Takeaway

Homes in 60481 have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in 60481 was $187,000 in April 2024, up 3.9% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $99.9K$112K
+12.1%
2 $155K$166.5K
+7.4%
3 $223K$231.5K
+3.8%
4 $335K$260K
-22.4%
5+ $390K$273.5K
-29.9%

Summary: 60481 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.1%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 22.4%, and 5+ bedroom homes decreased by 29.9%.

Median Sold Price Compared To Nearby Zip Codes

60416
+19.0%
60408
+18.2%
60407
+13.1%
60410
+7.5%
60481
+3.9%

Housing Supply in 60481, IL

How many homes are available in 60481, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4542-6.7%

Summary: The 60481 real estate market had 42 homes for sale in April 2024, a 6.7% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 129
-25.0%
2 810
+25.0%
3 1413
-7.1%
4 119
-18.2%
5+ 01
+100.0%

Summary: The 60481 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
169-43.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60481, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 60481 in April 2024, down by 43.8% month-over-month. Of the 9 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.

Days on Market for 60481, IL

How long does it take to sell a home in 60481, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
18 Days40 Days+115.5%

Summary: Homes in 60481 had an average of 40 days on market in Apr 2024, up by 115.5% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60481 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in 60481; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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 4 Days Ago

Newest Listings in 60481, IL

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