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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60408 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 60408 has remained a Seller's Market.

Key Takeaway

60408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60408, IL

How much do homes in 60408, IL cost?

Median Sold Price

$262,500

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$7,600(+3.0%)

Key Takeaway

Homes in 60408 have sold for 3% more than they did a year ago.

Summary: The median home sold price in 60408 was $262,500 in November 2024, up 3% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $85.1K$95K
+11.6%
2 $190K$199.9K
+5.2%
3 $229K$247.5K
+8.1%
4 $305K$339.9K
+11.4%
5+ $385K$385K
0.0%

Summary: 60408 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60481
+9.7%
60416
+6.3%
60408
+3.0%

Housing Supply in 60408, IL

How many homes are available in 60408, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1211-8.3%

Summary: The 60408 real estate market had 11 homes for sale in November 2024, a 8.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 54
-20.0%
4 46
+50.0%
5+ 20
-100.0%

Summary: The 60408 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
72-71.4%

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 November 2024, down by 71.4% month-over-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

Nov 2023Nov 2024CHANGE
9 Days8 Days-11.1%

Summary: Homes in 60408 had an average of 8 days on market in Nov 2024, down by 11.1% 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 November 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 3 Days Ago

Newest Listings in 60408, IL

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