Is 60131, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60131 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60131 has remained a Seller's Market.

Key Takeaway

60131 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60131, IL

How much do homes in 60131, IL cost?

Median Sold Price

$315,000

$253/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$18,500(+6.2%)

Key Takeaway

Homes in 60131 have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in 60131 was $315,000 in December 2024, up 6.2% from last year, and the median price per square foot was $253.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $142.4K$180K
+26.4%
2 $250K$281K
+12.4%
3 $299.9K$315K
+5.0%
4 $355K$357K
+0.6%
5+ $350K$395K
+12.9%

Summary: 60131 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.4%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 12.9%.

Median Sold Price Compared To Nearby Zip Codes

60171
+17.3%
60164
+7.1%
60131
+6.2%
60176
+5.8%

Housing Supply in 60131, IL

How many homes are available in 60131, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
3732-13.5%

Summary: The 60131 real estate market had 32 homes for sale in December 2024, a 13.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 01
+100.0%
2 99
0.0%
3 1815
-16.7%
4 64
-33.3%
5+ 43
-25.0%

Summary: The 60131 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
126-50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60131, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 60131 in December 2024, down by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for 60131, IL

How long does it take to sell a home in 60131, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
30 Days21 Days-28.5%

Summary: Homes in 60131 had an average of 21 days on market in Dec 2024, down by 28.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60131 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 6 homes were sold in 60131; 67% of homes were sold within 30 days, 33% 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 8 Days Ago

Newest Listings in 60131, IL

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