Is 60631, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60631 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60631 has remained a Seller's Market.

Key Takeaway

60631 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60631, IL

How much do homes in 60631, IL cost?

Median Sold Price

$389,750

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$4,750(+1.2%)

Key Takeaway

Homes in 60631 have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in 60631 was $389,750 in March 2024, up 1.2% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $133.2K$162.5K
+22.0%
2 $230K$256K
+11.3%
3 $411.2K$410K
-0.3%
4 $520K$622.5K
+19.7%
5+ $615K$640K
+4.1%

Summary: 60631 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 11.3%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 4.1%.

Median Sold Price Compared To Nearby Zip Codes

60706
+7.4%
60646
+6.9%
60068
+6.5%
60631
+1.2%
60656
-4.0%

Housing Supply in 60631, IL

How many homes are available in 60631, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
78103+32.1%

Summary: The 60631 real estate market had 103 homes for sale in March 2024, a 32.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 78
+14.3%
2 2428
+16.7%
3 2232
+45.5%
4 1825
+38.9%
5+ 710
+42.9%

Summary: The 60631 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1724+41.2%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60631, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.

Summary: A total of 24 homes were sold or pending in 60631 in March 2024, up by 41.2% month-over-month. Of the 24 sold homes, 29% were sold under asking, 38% were sold at asking, and 33% were sold over asking.

Days on Market for 60631, IL

How long does it take to sell a home in 60631, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
26 Days21 Days-17.5%

Summary: Homes in 60631 had an average of 21 days on market in Mar 2024, down by 17.5% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60631 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 24 homes were sold in 60631; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% 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 60631, IL

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