Is 60050, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60050 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60050 has remained a Seller's Market.

Key Takeaway

60050 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60050, IL

How much do homes in 60050, IL cost?

Median Sold Price

$287,500

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,500(+12.7%)

Key Takeaway

Homes in 60050 have sold for 12.7% more than they did a year ago.

Summary: The median home sold price in 60050 was $287,500 in October 2024, up 12.7% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $104.7K$124.9K
+19.2%
2 $199.4K$230K
+15.3%
3 $265K$295K
+11.3%
4 $361.5K$388.9K
+7.6%
5+ $328.2K$390K
+18.8%

Summary: 60050 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.2%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 18.8%.

Median Sold Price Compared To Nearby Zip Codes

60012
+13.6%
60050
+12.7%
60051
+8.6%
60020
+6.6%

Housing Supply in 60050, IL

How many homes are available in 60050, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
128152+18.8%

Summary: The 60050 real estate market had 152 homes for sale in October 2024, a 18.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 3944
+12.8%
3 5164
+25.5%
4 3135
+12.9%
5+ 66
0.0%

Summary: The 60050 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 25.5%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
38380.0%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60050, you may be able to get a good deal. 39.5% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in 60050 in October 2024, the same as the previous month. Of the 38 sold homes, 39% were sold under asking, 26% were sold at asking, and 34% were sold over asking.

Days on Market for 60050, IL

How long does it take to sell a home in 60050, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days21 Days+66.6%

Summary: Homes in 60050 had an average of 21 days on market in Oct 2024, up by 66.6% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60050 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 38 homes were sold in 60050; 68% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 3% 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 21 Days Ago

Newest Listings in 60050, IL

Nearby Markets to 60050, IL