Is 60706, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60706 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 60706 has remained a Seller's Market.

Key Takeaway

60706 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60706, IL

How much do homes in 60706, IL cost?

Median Sold Price

$360,000

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$20,750(+6.1%)

Key Takeaway

Homes in 60706 have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in 60706 was $360,000 in February 2024, up 6.1% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $168K$172K
+2.4%
2 $271.4K$290K
+6.8%
3 $355K$370K
+4.2%
4 $457.5K$455K
-0.5%
5+ $561.2K$658.5K
+17.3%

Summary: 60706 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 17.3%.

Median Sold Price Compared To Nearby Zip Codes

60706
+6.1%
60176
+3.4%
60634
+1.8%
60631
0.0%
60656
-4.7%

Housing Supply in 60706, IL

How many homes are available in 60706, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4762+31.9%

Summary: The 60706 real estate market had 62 homes for sale in February 2024, a 31.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 35
+66.7%
2 1117
+54.5%
3 2428
+16.7%
4 57
+40.0%
5+ 45
+25.0%

Summary: The 60706 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
812+50.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60706, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 60706 in February 2024, up by 50.0% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 60706, IL

How long does it take to sell a home in 60706, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
82 Days37 Days-55.1%

Summary: Homes in 60706 had an average of 37 days on market in Feb 2024, down by 55.1% compared to last year.

Breakdown of Home Sale Times

7 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 60706 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 12 homes were sold in 60706; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 17% 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

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