Is 60005, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60005 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60005 has remained a Seller's Market.

Key Takeaway

60005 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60005, IL

How much do homes in 60005, IL cost?

Median Sold Price

$415,750

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$36,750(+9.7%)

Key Takeaway

Homes in 60005 have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in 60005 was $415,750 in October 2024, up 9.7% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $152.5K$178K
+16.7%
2 $200.7K$251.2K
+25.2%
3 $425.5K$449.5K
+5.7%
4 $581K$650K
+11.9%
5+ $675K$627.5K
-7.0%

Summary: 60005 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 25.2%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes decreased by 7%.

Median Sold Price Compared To Nearby Zip Codes

60008
+19.2%
60005
+9.7%
60007
+8.0%
60004
+7.5%
60056
+6.6%

Housing Supply in 60005, IL

How many homes are available in 60005, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
101120+18.8%

Summary: The 60005 real estate market had 120 homes for sale in October 2024, a 18.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1417
+21.4%
2 3034
+13.3%
3 2937
+27.6%
4 2526
+4.0%
5+ 36
+100.0%

Summary: The 60005 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3032+6.7%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60005, you could pay more than the asking price. 46.9% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in 60005 in October 2024, up by 6.7% month-over-month. Of the 32 sold homes, 41% were sold under asking, 13% were sold at asking, and 47% were sold over asking.

Days on Market for 60005, IL

How long does it take to sell a home in 60005, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days11 Days-28.8%

Summary: Homes in 60005 had an average of 11 days on market in Oct 2024, down by 28.8% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60005 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 32 homes were sold in 60005; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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 14 Days Ago

Newest Listings in 60005, IL

Nearby Markets to 60005, IL