Is 60548, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60548 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60548 has remained a Seller's Market.

Key Takeaway

60548 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60548, IL

How much do homes in 60548, IL cost?

Median Sold Price

$289,000

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$29,000(+11.2%)

Key Takeaway

Homes in 60548 have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in 60548 was $289,000 in April 2024, up 11.2% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$150K
N/A
2 $188.5K$190K
+0.8%
3 $264.2K$289.5K
+9.6%
4 $299K$334.2K
+11.8%
5+ $270K$354K
+31.1%

Summary: 60548 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 0.8%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 31.1%.

Median Sold Price Compared To Nearby Zip Codes

60552
+15.0%
60548
+11.2%
60545
+6.3%

Housing Supply in 60548, IL

How many homes are available in 60548, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3537+5.7%

Summary: The 60548 real estate market had 37 homes for sale in April 2024, a 5.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 88
0.0%
3 1315
+15.4%
4 1113
+18.2%
5+ 31
-66.7%

Summary: The 60548 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 15.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
990.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60548, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in 60548 in April 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.

Days on Market for 60548, IL

How long does it take to sell a home in 60548, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
10 Days42 Days+311.6%

Summary: Homes in 60548 had an average of 42 days on market in Apr 2024, up by 311.6% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60548 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in 60548; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% 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 3 Days Ago

Newest Listings in 60548, IL

Nearby Markets to 60548, IL