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 21 Days Ago

Newest Listings in 60118, IL

Nearby Markets to 60118, IL