Is 60506, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60506 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60506 has remained a Seller's Market.

Key Takeaway

60506 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60506, IL

How much do homes in 60506, IL cost?

Median Sold Price

$269,655

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$5,654(+2.1%)

Key Takeaway

Homes in 60506 have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in 60506 was $269,655 in April 2024, up 2.1% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $127.4K$165K
+29.5%
2 $200K$223.7K
+11.9%
3 $255K$275K
+7.8%
4 $330K$331.2K
0.4%
5+ $335K$321K
-4.2%

Summary: 60506 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.5%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 4.2%.

Median Sold Price Compared To Nearby Zip Codes

60542
+18.0%
60538
+9.7%
60505
+7.1%
60554
+4.7%
60506
+2.1%

Housing Supply in 60506, IL

How many homes are available in 60506, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8390+8.4%

Summary: The 60506 real estate market had 90 homes for sale in April 2024, a 8.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 02
+100.0%
2 1611
-31.3%
3 3944
+12.8%
4 2228
+27.3%
5+ 65
-16.7%

Summary: The 60506 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 31.3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3230-6.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60506, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 30 homes were sold or pending in 60506 in April 2024, down by 6.3% month-over-month. Of the 30 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% were sold over asking.

Days on Market for 60506, IL

How long does it take to sell a home in 60506, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
31 Days17 Days-45.1%

Summary: Homes in 60506 had an average of 17 days on market in Apr 2024, down by 45.1% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60506 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 30 homes were sold in 60506; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% 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 7 Days Ago

Newest Listings in 60506, IL

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