Is 60501, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60501 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60501 has remained a Seller's Market.

Key Takeaway

60501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60501, IL

How much do homes in 60501, IL cost?

Median Sold Price

$289,500

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$24,500(+9.2%)

Key Takeaway

Homes in 60501 have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in 60501 was $289,500 in April 2024, up 9.2% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $48K-
N/A
2 $157.5K$235K
+49.2%
3 $260.5K$270K
+3.6%
4 $315K$360K
+14.3%
5+ $321.2K$330K
+2.7%

Summary: 60501 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 49.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Zip Codes

60501
+9.2%
60455
+6.3%
60638
+2.7%
60458
+2.5%
60534
+1.6%

Housing Supply in 60501, IL

How many homes are available in 60501, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1316+23.1%

Summary: The 60501 real estate market had 16 homes for sale in April 2024, a 23.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 22
0.0%
3 47
+75.0%
4 43
-25.0%
5+ 34
+33.3%

Summary: The 60501 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 75%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60501, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 60501 in April 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for 60501, IL

How long does it take to sell a home in 60501, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
11 Days50 Days+325.4%

Summary: Homes in 60501 had an average of 50 days on market in Apr 2024, up by 325.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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 60501 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 3 homes were sold in 60501; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 60501, IL

Nearby Markets to 60501, IL