Is 60640, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60640 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60640 has remained a Seller's Market.

Key Takeaway

60640 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60640, IL

How much do homes in 60640, IL cost?

Median Sold Price

$343,650

$260/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$11,600(+3.5%)

Key Takeaway

Homes in 60640 have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in 60640 was $343,650 in March 2024, up 3.5% from last year, and the median price per square foot was $260.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $160K$168.5K
+5.3%
2 $324.9K$330K
+1.5%
3 $495K$544.5K
+10.0%
4 $872.5K$867.5K
-0.6%
5+ $795K$825K
+3.8%

Summary: 60640 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Zip Codes

60660
+8.1%
60613
+8.0%
60625
+5.5%
60640
+3.5%

Housing Supply in 60640, IL

How many homes are available in 60640, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
173213+23.1%

Summary: The 60640 real estate market had 213 homes for sale in March 2024, a 23.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 4058
+45.0%
2 6072
+20.0%
3 4547
+4.4%
4 1519
+26.7%
5+ 1317
+30.8%

Summary: The 60640 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 30.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4257+35.7%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60640, you may be able to get a good deal. 45.6% of homes here sold below asking price last month.

Summary: A total of 57 homes were sold or pending in 60640 in March 2024, up by 35.7% month-over-month. Of the 57 sold homes, 46% were sold under asking, 16% were sold at asking, and 39% were sold over asking.

Days on Market for 60640, IL

How long does it take to sell a home in 60640, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
28 Days27 Days-2.9%

Summary: Homes in 60640 had an average of 27 days on market in Mar 2024, down by 2.9% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60640 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 57 homes were sold in 60640; 74% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 28 Days Ago

Newest Listings in 60640, IL

Nearby Markets to 60640, IL