Is 60616, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 60616 was a Seller's Market.
Housing Prices in 60616, IL
How much do homes in 60616, IL cost?
Median Sold Price
$347,750
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 60616 was $347,750 in March 2024, down 1% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $240K | $248.5K | +3.5% |
2 Bedrooms | $360.3K | $358.7K | -0.4% |
3 Bedrooms | $497.5K | $520K | +4.5% |
4 Bedrooms | $525K | $527K | 0.4% |
5+ Bedrooms | $540K | $545K | +0.9% |
Summary: 60616 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 0.9%.
Housing Supply in 60616, IL
How many homes are available in 60616, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
148 | 195 | +31.8% |
Summary: The 60616 real estate market had 195 homes for sale in March 2024, a 31.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 31 | 41 | +32.3% |
2 Bedrooms | 61 | 87 | +42.6% |
3 Bedrooms | 37 | 42 | +13.5% |
4 Bedrooms | 10 | 13 | +30.0% |
5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The 60616 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 32.3%, 2 bedroom homes increased by 42.6%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 24 | +4.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in 60616 in March 2024, up by 4.3% month-over-month. Of the 24 sold homes, 38% were sold under asking, 21% were sold at asking, and 42% were sold over asking.
Days on Market for 60616, IL
How long does it take to sell a home in 60616, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 46 Days | -3.2% |
Summary: Homes in 60616 had an average of 46 days on market in Mar 2024, down by 3.2% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in 60616; 54% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.