Is 60408, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60408 is a neutral's market

Buyer's
Market

Difference Since December 2023

At the same time last year, 60408 was a Seller's Market.

Key Takeaway

60408 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 60408, IL

How much do homes in 60408, IL cost?

Median Sold Price

$265,000

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$10,100(+4.0%)

Key Takeaway

Homes in 60408 have sold for 4% more than they did a year ago.

Summary: The median home sold price in 60408 was $265,000 in December 2024, up 4% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $90K-
N/A
2 $190K$207.4K
+9.2%
3 $238.7K$250K
+4.7%
4 $305K$340K
+11.5%
5+ $385K$385K
0.0%

Summary: 60408 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60481
+10.8%
60416
+6.8%
60408
+4.0%

Housing Supply in 60408, IL

How many homes are available in 60408, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1014+40.0%

Summary: The 60408 real estate market had 14 homes for sale in December 2024, a 40.0% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 11
0.0%
3 37
+133.3%
4 66
0.0%
5+ 00
0.0%

Summary: The 60408 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 remained the same, 3 bedroom homes increased by 133.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60408, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 60408 in December 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 60408, IL

How long does it take to sell a home in 60408, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
32 Days11 Days-65.8%

Summary: Homes in 60408 had an average of 11 days on market in Dec 2024, down by 65.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60408 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 2 homes were sold in 60408; 100% of homes were sold within 30 days, 0% 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 6 Days Ago

Newest Listings in 60408, IL

Nearby Markets to 60408, IL