Is 60051, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60051 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60051 has remained a Seller's Market.

Key Takeaway

60051 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60051, IL

How much do homes in 60051, IL cost?

Median Sold Price

$305,000

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,050(+8.6%)

Key Takeaway

Homes in 60051 have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in 60051 was $305,000 in October 2024, up 8.6% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $250K$223.7K
-10.5%
2 $206K$235K
+14.1%
3 $274.9K$300K
+9.1%
4 $369.9K$412.5K
+11.5%
5+ $571K$450K
-21.2%

Summary: 60051 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 21.2%.

Median Sold Price Compared To Nearby Zip Codes

60050
+12.7%
60041
+9.4%
60051
+8.6%
60020
+6.6%
60042
+5.4%

Housing Supply in 60051, IL

How many homes are available in 60051, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
118126+6.8%

Summary: The 60051 real estate market had 126 homes for sale in October 2024, a 6.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 3434
0.0%
3 4852
+8.3%
4 3235
+9.4%
5+ 45
+25.0%

Summary: The 60051 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 remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2737+37.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60051, you could pay more than the asking price. 40.5% of homes here sold above asking price last month.

Summary: A total of 37 homes were sold or pending in 60051 in October 2024, up by 37.0% month-over-month. Of the 37 sold homes, 32% were sold under asking, 27% were sold at asking, and 41% were sold over asking.

Days on Market for 60051, IL

How long does it take to sell a home in 60051, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days20 Days+15.5%

Summary: Homes in 60051 had an average of 20 days on market in Oct 2024, up by 15.5% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60051 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 37 homes were sold in 60051; 76% of homes were sold within 30 days, 22% 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 60051, IL

Nearby Markets to 60051, IL