Is 60611, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60611 is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, 60611 was a Seller's Market.

Key Takeaway

60611 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60611, IL

How much do homes in 60611, IL cost?

Median Sold Price

$450,000

$357/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$786(-0.2%)

Key Takeaway

The sold price of homes in 60611 has remained the same since last year.

Summary: The median home sold price in 60611 was $450,000 in March 2024, down 0.2% from last year, and the median price per square foot was $357.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $267.7K$272.5K
+1.8%
2 $535K$480K
-10.3%
3 $988K$975K
-1.3%
4 $1.5M$1.3M
-12.9%
5+ $2.6M$1.8M
-30.8%

Summary: 60611 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 30.8%.

Median Sold Price Compared To Nearby Zip Codes

60601
+1.0%
60611
-0.2%
60654
-2.7%
60610
-7.8%

Housing Supply in 60611, IL

How many homes are available in 60611, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
579735+26.9%

Summary: The 60611 real estate market had 735 homes for sale in March 2024, a 26.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 203246
+21.2%
2 190237
+24.7%
3 138193
+39.9%
4 3644
+22.2%
5+ 1215
+25.0%

Summary: The 60611 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.2%, 2 bedroom homes increased by 24.7%, 3 bedroom homes increased by 39.9%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
6385+34.9%

Asking Price vs. Sold Price

68 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60611, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 85 homes were sold or pending in 60611 in March 2024, up by 34.9% month-over-month. Of the 85 sold homes, 80% were sold under asking, 8% were sold at asking, and 12% were sold over asking.

Days on Market for 60611, IL

How long does it take to sell a home in 60611, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
98 Days64 Days-34.6%

Summary: Homes in 60611 had an average of 64 days on market in Mar 2024, down by 34.6% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

26 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60611 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 85 homes were sold in 60611; 48% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 31% 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 22 Days Ago

Newest Listings in 60611, IL

Nearby Markets to 60611, IL