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 October 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

$356,400

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$37,900(+11.9%)

Key Takeaway

Homes in 60188 have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in 60188 was $356,400 in October 2024, up 11.9% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $128K$158.5K
+23.8%
2 $252K$260K
+3.2%
3 $320K$354K
+10.6%
4 $425K$469K
+10.4%
5+ $543.1K$515K
-5.2%

Summary: 60188 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 5.2%.

Median Sold Price Compared To Nearby Zip Codes

60139
+16.0%
60188
+11.9%
60187
+9.4%
60108
+3.2%

Housing Supply in 60188, IL

How many homes are available in 60188, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7083+18.6%

Summary: The 60188 real estate market had 83 homes for sale in October 2024, a 18.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 1619
+18.8%
3 2532
+28.0%
4 2629
+11.5%
5+ 21
-50.0%

Summary: The 60188 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 increased by 18.8%, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1928+47.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60188, you could pay more than the asking price. 53.6% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in 60188 in October 2024, up by 47.4% month-over-month. Of the 28 sold homes, 39% were sold under asking, 7% were sold at asking, and 54% 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

Oct 2023Oct 2024CHANGE
17 Days15 Days-11.6%

Summary: Homes in 60188 had an average of 15 days on market in Oct 2024, down by 11.6% compared to last year.

Breakdown of Home Sale Times

24 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 60188 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 28 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 24 Days Ago

Newest Listings in 60188, IL

Nearby Markets to 60188, IL