Is 60940, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60940 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60940 has remained a Seller's Market.

Key Takeaway

60940 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60940, IL

How much do homes in 60940, IL cost?

Median Sold Price

$260,000

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$24,036(+10.2%)

Key Takeaway

Homes in 60940 have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in 60940 was $260,000 in April 2024, up 10.2% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $152.4K$241.9K
+58.8%
3 $223.4K$249.5K
+11.7%
4 $245K$279.9K
+14.2%
5+ $367.2K$266.5K
-27.4%

Summary: 60940 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 58.8%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes decreased by 27.4%.

Median Sold Price Compared To Nearby Zip Codes

60940
+10.2%
60954
+7.0%
60468
+5.0%
60401
+3.3%

Housing Supply in 60940, IL

How many homes are available in 60940, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1215+25.0%

Summary: The 60940 real estate market had 15 homes for sale in April 2024, a 25.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 12
+100.0%
3 57
+40.0%
4 55
0.0%
5+ 00
0.0%

Summary: The 60940 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
04+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60940, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 60940 in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 60940, IL

How long does it take to sell a home in 60940, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
7 Days85 Days+1117.9%

Summary: Homes in 60940 had an average of 85 days on market in Apr 2024, up by 1117.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 60940 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 4 homes were sold in 60940; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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 1 Day Ago

Newest Listings in 60940, IL

Nearby Markets to 60940, IL