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 December 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

$395,980

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$16,546(+4.4%)

Key Takeaway

Homes in 60056 have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in 60056 was $395,980 in December 2024, up 4.4% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $156K$155K
-0.6%
2 $250K$264.7K
+5.9%
3 $383.7K$415K
+8.2%
4 $500K$521K
+4.2%
5+ $577.5K$645K
+11.7%

Summary: 60056 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 11.7%.

Median Sold Price Compared To Nearby Zip Codes

60016
+11.0%
60005
+8.5%
60004
+5.4%
60056
+4.4%
60070
+1.8%

Housing Supply in 60056, IL

How many homes are available in 60056, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
128104-18.8%

Summary: The 60056 real estate market had 104 homes for sale in December 2024, a 18.8% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 117
-36.4%
2 3225
-21.9%
3 5346
-13.2%
4 2821
-25.0%
5+ 45
+25.0%

Summary: The 60056 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 36.4%, 2 bedroom homes decreased by 21.9%, 3 bedroom homes decreased by 13.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
4931-36.7%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 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. 67.7% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in 60056 in December 2024, down by 36.7% month-over-month. Of the 31 sold homes, 68% were sold under asking, 6% were sold at asking, and 26% 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

Dec 2023Dec 2024CHANGE
19 Days25 Days+31.5%

Summary: Homes in 60056 had an average of 25 days on market in Dec 2024, up by 31.5% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 December 2024, 31 homes were sold in 60056; 77% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% 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 60056, IL

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