Is 60047, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60047 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 60047 has remained a Seller's Market.

Key Takeaway

60047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60047, IL

How much do homes in 60047, IL cost?

Median Sold Price

$626,000

$219/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$51,687(+9.0%)

Key Takeaway

Homes in 60047 have sold for 9% more than they did a year ago.

Summary: The median home sold price in 60047 was $626,000 in November 2024, up 9% from last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $272.5K$315K
+15.6%
3 $407.5K$430K
+5.5%
4 $645K$715.6K
+11.0%
5+ $790K$914.9K
+15.8%

Summary: 60047 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 15.8%.

Median Sold Price Compared To Nearby Zip Codes

60047
+9.0%
60089
+8.8%
60061
+7.8%
60074
+3.1%
60060
-4.0%

Housing Supply in 60047, IL

How many homes are available in 60047, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
170154-9.4%

Summary: The 60047 real estate market had 154 homes for sale in November 2024, a 9.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1418
+28.6%
3 4638
-17.4%
4 7364
-12.3%
5+ 3734
-8.1%

Summary: The 60047 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes decreased by 8.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4836-25.0%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60047, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in 60047 in November 2024, down by 25.0% month-over-month. Of the 36 sold homes, 42% were sold under asking, 22% were sold at asking, and 36% were sold over asking.

Days on Market for 60047, IL

How long does it take to sell a home in 60047, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
15 Days19 Days+23.0%

Summary: Homes in 60047 had an average of 19 days on market in Nov 2024, up by 23% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60047 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 36 homes were sold in 60047; 81% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 8% 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 22 Days Ago

Newest Listings in 60047, IL

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