Is 60188, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60188 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60188 has remained a Seller's Market.

Key Takeaway

60188 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60188, IL

How much do homes in 60188, IL cost?

Median Sold Price

$363,833

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$43,833(+13.7%)

Key Takeaway

Homes in 60188 have sold for 13.7% more than they did a year ago.

Summary: The median home sold price in 60188 was $363,833 in December 2024, up 13.7% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $130K$160K
+23.1%
2 $246.1K$260K
+5.6%
3 $320K$356.2K
+11.3%
4 $425K$472.4K
+11.2%
5+ $536.2K$505K
-5.8%

Summary: 60188 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes decreased by 5.8%.

Median Sold Price Compared To Nearby Zip Codes

60139
+15.2%
60188
+13.7%
60187
+9.7%
60108
+1.4%

Housing Supply in 60188, IL

How many homes are available in 60188, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
6976+10.1%

Summary: The 60188 real estate market had 76 homes for sale in December 2024, a 10.1% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 44
0.0%
2 1115
+36.4%
3 3138
+22.6%
4 2218
-18.2%
5+ 11
0.0%

Summary: The 60188 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 22.6%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1922+15.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60188, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in 60188 in December 2024, up by 15.8% month-over-month. Of the 22 sold homes, 55% were sold under asking, 5% were sold at asking, and 41% were sold over asking.

Days on Market for 60188, IL

How long does it take to sell a home in 60188, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
20 Days15 Days-23.6%

Summary: Homes in 60188 had an average of 15 days on market in Dec 2024, down by 23.6% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60188 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 22 homes were sold in 60188; 86% of homes were sold within 30 days, 14% 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 60188, IL

Nearby Markets to 60188, IL