Is 60041, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60041 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60041 has remained a Seller's Market.

Key Takeaway

60041 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60041, IL

How much do homes in 60041, IL cost?

Median Sold Price

$290,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+9.4%)

Key Takeaway

Homes in 60041 have sold for 9.4% more than they did a year ago.

Summary: The median home sold price in 60041 was $290,000 in October 2024, up 9.4% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $130K$119K
-8.5%
2 $177.5K$269.5K
+51.8%
3 $270K$297.5K
+10.2%
4 $357.5K$360K
+0.7%
5+ $521.7K$460K
-11.8%

Summary: 60041 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.5%, 2 bedroom homes increased by 51.8%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 11.8%.

Median Sold Price Compared To Nearby Zip Codes

60041
+9.4%
60073
+8.6%
60051
+8.6%
60046
+8.4%
60020
+6.6%

Housing Supply in 60041, IL

How many homes are available in 60041, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3429-14.7%

Summary: The 60041 real estate market had 29 homes for sale in October 2024, a 14.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 89
+12.5%
3 1813
-27.8%
4 44
0.0%
5+ 21
-50.0%

Summary: The 60041 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 27.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
11110.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60041, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 60041 in October 2024, the same as the previous month. Of the 11 sold homes, 73% were sold under asking, 0% were sold at asking, and 27% were sold over asking.

Days on Market for 60041, IL

How long does it take to sell a home in 60041, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days31 Days+46.5%

Summary: Homes in 60041 had an average of 31 days on market in Oct 2024, up by 46.5% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60041 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 60041; 55% of homes were sold within 30 days, 45% 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 4 Days Ago

Newest Listings in 60041, IL

Nearby Markets to 60041, IL