Is 60625, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60625 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 60625 has remained a Seller's Market.

Key Takeaway

60625 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60625, IL

How much do homes in 60625, IL cost?

Median Sold Price

$424,375

$261/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$45,952(+12.1%)

Key Takeaway

Homes in 60625 have sold for 12.1% more than they did a year ago.

Summary: The median home sold price in 60625 was $424,375 in February 2024, up 12.1% from last year, and the median price per square foot was $261.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $157.4K$163K
+3.5%
2 $257.5K$255K
-1.0%
3 $479.5K$543.7K
+13.4%
4 $654.5K$720K
+10.0%
5+ $680K$700K
+2.9%

Summary: 60625 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 2.9%.

Median Sold Price Compared To Nearby Zip Codes

60659
+20.5%
60625
+12.1%
60660
+5.4%
60640
+5.0%
60618
-1.6%

Housing Supply in 60625, IL

How many homes are available in 60625, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
111133+19.8%

Summary: The 60625 real estate market had 133 homes for sale in February 2024, a 19.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1112
+9.1%
2 3643
+19.4%
3 2127
+28.6%
4 1420
+42.9%
5+ 2931
+6.9%

Summary: The 60625 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 6.9%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2324+4.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60625, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 24 homes were sold or pending in 60625 in February 2024, up by 4.3% month-over-month. Of the 24 sold homes, 46% were sold under asking, 4% were sold at asking, and 50% were sold over asking.

Days on Market for 60625, IL

How long does it take to sell a home in 60625, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
41 Days36 Days-11.0%

Summary: Homes in 60625 had an average of 36 days on market in Feb 2024, down by 11% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60625 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 24 homes were sold in 60625; 54% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% 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 27 Days Ago

Newest Listings in 60625, IL

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