Is 60641, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60641 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60641 has remained a Seller's Market.

Key Takeaway

60641 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60641, IL

How much do homes in 60641, IL cost?

Median Sold Price

$420,000

$223/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$20,000(+5.0%)

Key Takeaway

Homes in 60641 have sold for 5% more than they did a year ago.

Summary: The median home sold price in 60641 was $420,000 in April 2024, up 5% from last year, and the median price per square foot was $223.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $141.2K$150K
+6.2%
2 $266.2K$231.5K
-13.1%
3 $403.5K$400K
-0.9%
4 $443K$485K
+9.5%
5+ $480K$549.9K
+14.6%

Summary: 60641 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes decreased by 13.1%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 14.6%.

Median Sold Price Compared To Nearby Zip Codes

60625
+6.1%
60641
+5.0%
60639
+4.5%
60630
+2.9%
60618
+1.0%

Housing Supply in 60641, IL

How many homes are available in 60641, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
138161+16.7%

Summary: The 60641 real estate market had 161 homes for sale in April 2024, a 16.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 76
-14.3%
2 1517
+13.3%
3 5161
+19.6%
4 3743
+16.2%
5+ 2834
+21.4%

Summary: The 60641 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 21.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
40400.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60641, you could pay more than the asking price. 57.5% of homes here sold above asking price last month.

Summary: A total of 40 homes were sold or pending in 60641 in April 2024, the same as the previous month. Of the 40 sold homes, 28% were sold under asking, 15% were sold at asking, and 57% were sold over asking.

Days on Market for 60641, IL

How long does it take to sell a home in 60641, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
32 Days24 Days-24.2%

Summary: Homes in 60641 had an average of 24 days on market in Apr 2024, down by 24.2% compared to last year.

Breakdown of Home Sale Times

35 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 60641 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 40 homes were sold in 60641; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 5% 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 4 Days Ago

Newest Listings in 60641, IL

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