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 4 Days Ago

Newest Listings in 60050, IL

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