Is 60628, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60628 is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, 60628 was a Seller's Market.

Key Takeaway

60628 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60628, IL

How much do homes in 60628, IL cost?

Median Sold Price

$165,166

$114/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$6,166(-3.6%)

Key Takeaway

Homes in 60628 have sold for 3.6% less than they did a year ago.

Summary: The median home sold price in 60628 was $165,166 in March 2024, down 3.6% from last year, and the median price per square foot was $114.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $205K-
N/A
2 $155K$145K
-6.5%
3 $171K$167K
-2.3%
4 $165K$166.7K
+1.1%
5+ $201.5K$213.5K
+6.0%

Summary: 60628 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 6%.

Median Sold Price Compared To Nearby Zip Codes

60617
+8.7%
60633
+7.1%
60827
+5.7%
60643
-2.8%
60628
-3.6%

Housing Supply in 60628, IL

How many homes are available in 60628, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
336381+13.4%

Summary: The 60628 real estate market had 381 homes for sale in March 2024, a 13.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 5257
+9.6%
3 141156
+10.6%
4 7288
+22.2%
5+ 7078
+11.4%

Summary: The 60628 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 11.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4954+10.2%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60628, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.

Summary: A total of 54 homes were sold or pending in 60628 in March 2024, up by 10.2% month-over-month. Of the 54 sold homes, 48% were sold under asking, 15% were sold at asking, and 37% were sold over asking.

Days on Market for 60628, IL

How long does it take to sell a home in 60628, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
47 Days69 Days+46.8%

Summary: Homes in 60628 had an average of 69 days on market in Mar 2024, up by 46.8% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

21 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 60628 has remained consistent over time.

Summary: During March 2024, 54 homes were sold in 60628; 37% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 24% 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 18 Days Ago

Newest Listings in 60628, IL

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