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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60071 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60071 has remained a Seller's Market.

Key Takeaway

60071 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60071, IL

How much do homes in 60071, IL cost?

Median Sold Price

$295,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,000(+13.5%)

Key Takeaway

Homes in 60071 have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in 60071 was $295,000 in October 2024, up 13.5% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $93.5K$120.5K
+28.9%
2 $134K$155K
+15.7%
3 $340K$350K
+2.9%
4 $485K$360K
-25.8%
5+ $339.5K$372.5K
+9.7%

Summary: 60071 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.9%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 25.8%, and 5+ bedroom homes increased by 9.7%.

Median Sold Price Compared To Nearby Zip Codes

60071
+13.5%
60081
+11.7%
60097
+7.6%
53181
+4.0%

Housing Supply in 60071, IL

How many homes are available in 60071, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1621+31.3%

Summary: The 60071 real estate market had 21 homes for sale in October 2024, a 31.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 11
0.0%
3 810
+25.0%
4 46
+50.0%
5+ 22
0.0%

Summary: The 60071 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 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. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 60071 in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Oct 2023Oct 2024CHANGE
4 Days13 Days+231.3%

Summary: Homes in 60071 had an average of 13 days on market in Oct 2024, up by 231.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was 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 October 2024, 4 homes were sold in 60071; 75% of homes were sold within 30 days, 25% 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 4 Days Ago

Newest Listings in 60071, IL

Nearby Markets to 60071, IL