Is 60560, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60560 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60560 has remained a Seller's Market.

Key Takeaway

60560 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60560, IL

How much do homes in 60560, IL cost?

Median Sold Price

$369,089

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$53,538(+17.0%)

Key Takeaway

Homes in 60560 have sold for 17% more than they did a year ago.

Summary: The median home sold price in 60560 was $369,089 in March 2024, up 17% from last year, and the median price per square foot was $167.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $133K$149.9K
+12.7%
2 $230K$245K
+6.5%
3 $285K$318K
+11.6%
4 $405K$419.9K
+3.7%
5+ $465K$535.6K
+15.2%

Summary: 60560 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Zip Codes

60560
+17.0%
60543
+5.2%
60545
+4.3%

Housing Supply in 60560, IL

How many homes are available in 60560, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
152167+9.9%

Summary: The 60560 real estate market had 167 homes for sale in March 2024, a 9.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 1926
+36.8%
3 4436
-18.2%
4 8094
+17.5%
5+ 58
+60.0%

Summary: The 60560 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 36.8%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3436+5.9%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60560, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.

Summary: A total of 36 homes were sold or pending in 60560 in March 2024, up by 5.9% month-over-month. Of the 36 sold homes, 25% were sold under asking, 33% were sold at asking, and 42% were sold over asking.

Days on Market for 60560, IL

How long does it take to sell a home in 60560, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
36 Days28 Days-21.6%

Summary: Homes in 60560 had an average of 28 days on market in Mar 2024, down by 21.6% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60560 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 36 homes were sold in 60560; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% 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 24 Days Ago

Newest Listings in 60560, IL

Nearby Markets to 60560, IL