Is 60056, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60056 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 60056 has remained a Seller's Market.

Key Takeaway

60056 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60056, IL

How much do homes in 60056, IL cost?

Median Sold Price

$392,333

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$16,033(+4.3%)

Key Takeaway

Homes in 60056 have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in 60056 was $392,333 in November 2024, up 4.3% from last year, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $145K$151K
+4.1%
2 $250K$265K
+6.0%
3 $384.9K$409.9K
+6.5%
4 $495.5K$531K
+7.2%
5+ $570K$630K
+10.5%

Summary: 60056 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 10.5%.

Median Sold Price Compared To Nearby Zip Codes

60016
+11.1%
60005
+10.7%
60004
+5.5%
60056
+4.3%
60070
-2.2%

Housing Supply in 60056, IL

How many homes are available in 60056, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
150140-6.7%

Summary: The 60056 real estate market had 140 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1213
+8.3%
2 3733
-10.8%
3 5958
-1.7%
4 3630
-16.7%
5+ 66
0.0%

Summary: The 60056 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 10.8%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4147+14.6%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60056, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in 60056 in November 2024, up by 14.6% month-over-month. Of the 47 sold homes, 51% were sold under asking, 9% were sold at asking, and 40% were sold over asking.

Days on Market for 60056, IL

How long does it take to sell a home in 60056, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
11 Days23 Days+97.8%

Summary: Homes in 60056 had an average of 23 days on market in Nov 2024, up by 97.8% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60056 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 47 homes were sold in 60056; 72% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 2% 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 2 Days Ago

Newest Listings in 60056, IL

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