Is 60605, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60605 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60605 has remained a Seller's Market.

Key Takeaway

60605 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60605, IL

How much do homes in 60605, IL cost?

Median Sold Price

$357,750

$311/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$936(+0.3%)

Key Takeaway

The sold price of homes in 60605 has remained the same since last year.

Summary: The median home sold price in 60605 was $357,750 in April 2024, up 0.3% from last year, and the median price per square foot was $311.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $256.7K$259.9K
+1.2%
2 $405.7K$410K
+1.0%
3 $675K$679.9K
+0.7%
4 $1.0M$1.0M
-7.6%
5+ -$1.0M
N/A

Summary: 60605 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60604
+6.9%
60603
+4.5%
60607
+2.6%
60601
+1.6%
60605
0.3%

Housing Supply in 60605, IL

How many homes are available in 60605, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
229277+21.0%

Summary: The 60605 real estate market had 277 homes for sale in April 2024, a 21.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 8097
+21.3%
2 99120
+21.2%
3 3946
+17.9%
4 1114
+27.3%
5+ 00
0.0%

Summary: The 60605 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.3%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4458+31.8%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60605, you could pay more than the asking price. 46.6% of homes here sold above asking price last month.

Summary: A total of 58 homes were sold or pending in 60605 in April 2024, up by 31.8% month-over-month. Of the 58 sold homes, 41% were sold under asking, 12% were sold at asking, and 47% were sold over asking.

Days on Market for 60605, IL

How long does it take to sell a home in 60605, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
40 Days37 Days-9.1%

Summary: Homes in 60605 had an average of 37 days on market in Apr 2024, down by 9.1% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60605 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 58 homes were sold in 60605; 66% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 16% 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 2 Days Ago

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