Is 60118, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60118 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60118 has remained a Seller's Market.

Key Takeaway

60118 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60118, IL

How much do homes in 60118, IL cost?

Median Sold Price

$380,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,000(+11.8%)

Key Takeaway

Homes in 60118 have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in 60118 was $380,000 in October 2024, up 11.8% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $56K$58.5K
+4.5%
2 $226K$259.5K
+14.8%
3 $315K$320K
+1.6%
4 $432.5K$461K
+6.6%
5+ $482.5K$587.5K
+21.8%

Summary: 60118 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 21.8%.

Median Sold Price Compared To Nearby Zip Codes

60118
+11.8%
60102
+8.7%
60110
+8.5%
60136
0.4%

Housing Supply in 60118, IL

How many homes are available in 60118, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5165+27.5%

Summary: The 60118 real estate market had 65 homes for sale in October 2024, a 27.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 911
+22.2%
3 1115
+36.4%
4 2227
+22.7%
5+ 69
+50.0%

Summary: The 60118 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 increased by 22.2%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
922+144.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60118, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in 60118 in October 2024, up by 144.4% month-over-month. Of the 22 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.

Days on Market for 60118, IL

How long does it take to sell a home in 60118, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days20 Days+5.8%

Summary: Homes in 60118 had an average of 20 days on market in Oct 2024, up by 5.8% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60118 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 22 homes were sold in 60118; 82% of homes were sold within 30 days, 18% 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 60118, IL

Nearby Markets to 60118, IL