Is 60406, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60406 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60406 was a Seller's Market.

Key Takeaway

60406 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60406, IL

How much do homes in 60406, IL cost?

Median Sold Price

$215,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$25,000(+13.2%)

Key Takeaway

Homes in 60406 have sold for 13.2% more than they did a year ago.

Summary: The median home sold price in 60406 was $215,000 in November 2024, up 13.2% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $50.5K$60K
+18.8%
2 $107.5K$150.2K
+39.8%
3 $199K$211.5K
+6.3%
4 $199K$256K
+28.6%
5+ $279.9K$272.5K
-2.6%

Summary: 60406 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 39.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 2.6%.

Median Sold Price Compared To Nearby Zip Codes

60406
+13.2%
60655
+7.5%
60469
+7.0%
60803
+3.6%
60472
-0.8%

Housing Supply in 60406, IL

How many homes are available in 60406, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
63630.0%

Summary: The 60406 real estate market had 63 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 1514
-6.7%
3 1919
0.0%
4 1821
+16.7%
5+ 97
-22.2%

Summary: The 60406 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
990.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60406, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 60406 in November 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for 60406, IL

How long does it take to sell a home in 60406, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days15 Days-42.1%

Summary: Homes in 60406 had an average of 15 days on market in Nov 2024, down by 42.1% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60406 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 9 homes were sold in 60406; 89% of homes were sold within 30 days, 11% 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 17 Days Ago

Newest Listings in 60406, IL

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