Is 60071, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60071 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60071 was a Seller's Market.

Key Takeaway

60071 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60071, IL

How much do homes in 60071, IL cost?

Median Sold Price

$290,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$25,000(-7.9%)

Key Takeaway

Homes in 60071 have sold for 7.9% less than they did a year ago.

Summary: The median home sold price in 60071 was $290,000 in November 2024, down 7.9% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $103.7K$122K
+17.6%
2 $138K$155K
+12.3%
3 $340K$330K
-2.9%
4 $485K$355K
-26.8%
5+ $415K$330K
-20.5%

Summary: 60071 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 12.3%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 26.8%, and 5+ bedroom homes decreased by 20.5%.

Median Sold Price Compared To Nearby Zip Codes

60081
+7.3%
53181
+4.0%
60097
+3.8%
60071
-7.9%

Housing Supply in 60071, IL

How many homes are available in 60071, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1720+17.6%

Summary: The 60071 real estate market had 20 homes for sale in November 2024, a 17.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 11
0.0%
3 810
+25.0%
4 55
0.0%
5+ 12
+100.0%

Summary: The 60071 housing inventory by bedroom type for November 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 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60071, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 60071 in November 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 60071, IL

How long does it take to sell a home in 60071, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
34 Days6 Days-80.8%

Summary: Homes in 60071 had an average of 6 days on market in Nov 2024, down by 80.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60071 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 3 homes were sold in 60071; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 60071, IL

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