Is 60516, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 60516 has remained a Seller's Market.
Housing Prices in 60516, IL
How much do homes in 60516, IL cost?
Median Sold Price
$415,701
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 60516 was $415,701 in March 2024, up 3.8% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | $190K | +31.0% |
2 Bedrooms | $197.5K | $215K | +8.9% |
3 Bedrooms | $385K | $402.5K | +4.5% |
4 Bedrooms | $462.5K | $548K | +18.5% |
5+ Bedrooms | $650K | $823.5K | +26.7% |
Summary: 60516 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 26.7%.
Housing Supply in 60516, IL
How many homes are available in 60516, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
68 | 83 | +22.1% |
Summary: The 60516 real estate market had 83 homes for sale in March 2024, a 22.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 23 | 31 | +34.8% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The 60516 housing inventory by bedroom type for March 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 34.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 19 | +26.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 60516 in March 2024, up by 26.7% month-over-month. Of the 19 sold homes, 32% were sold under asking, 16% were sold at asking, and 53% were sold over asking.
Days on Market for 60516, IL
How long does it take to sell a home in 60516, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 23 Days | -51.0% |
Summary: Homes in 60516 had an average of 23 days on market in Mar 2024, down by 51% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in 60516; 89% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.