Is 60707, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60707 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60707 has remained a Seller's Market.

Key Takeaway

60707 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60707, IL

How much do homes in 60707, IL cost?

Median Sold Price

$345,750

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$35,861(+11.6%)

Key Takeaway

Homes in 60707 have sold for 11.6% more than they did a year ago.

Summary: The median home sold price in 60707 was $345,750 in March 2024, up 11.6% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $110K$120.1K
+9.2%
2 $213.5K$226K
+5.9%
3 $345K$357.5K
+3.6%
4 $367K$400K
+9.0%
5+ $470K$510K
+8.5%

Summary: 60707 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 8.5%.

Median Sold Price Compared To Nearby Zip Codes

60707
+11.6%
60171
+5.0%
60634
+3.4%
60305
-4.8%

Housing Supply in 60707, IL

How many homes are available in 60707, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
116132+13.8%

Summary: The 60707 real estate market had 132 homes for sale in March 2024, a 13.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1720
+17.6%
2 2526
+4.0%
3 3637
+2.8%
4 2731
+14.8%
5+ 1118
+63.6%

Summary: The 60707 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 63.6%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2434+41.7%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60707, you may be able to get a good deal. 44.1% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in 60707 in March 2024, up by 41.7% month-over-month. Of the 34 sold homes, 44% were sold under asking, 18% were sold at asking, and 38% were sold over asking.

Days on Market for 60707, IL

How long does it take to sell a home in 60707, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
39 Days37 Days-4.7%

Summary: Homes in 60707 had an average of 37 days on market in Mar 2024, down by 4.7% compared to last year.

Breakdown of Home Sale Times

19 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 60707 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 34 homes were sold in 60707; 56% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 15% 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 17 Days Ago

Newest Listings in 60707, IL

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