Is 60431, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60431 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60431 has remained a Seller's Market.

Key Takeaway

60431 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60431, IL

How much do homes in 60431, IL cost?

Median Sold Price

$324,437

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,937(+5.9%)

Key Takeaway

Homes in 60431 have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in 60431 was $324,437 in October 2024, up 5.9% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $116K$96K
-17.2%
2 $250K$260K
+4.0%
3 $299.9K$320K
+6.7%
4 $379.9K$380K
0.0%
5+ $405K$450K
+11.1%

Summary: 60431 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.2%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Zip Codes

60404
+13.1%
60435
+10.8%
60544
+9.4%
60431
+5.9%
60586
+3.3%

Housing Supply in 60431, IL

How many homes are available in 60431, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9895-3.1%

Summary: The 60431 real estate market had 95 homes for sale in October 2024, a 3.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 1617
+6.3%
3 5248
-7.7%
4 2627
+3.8%
5+ 33
0.0%

Summary: The 60431 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2831+10.7%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60431, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in 60431 in October 2024, up by 10.7% month-over-month. Of the 31 sold homes, 39% were sold under asking, 39% were sold at asking, and 23% were sold over asking.

Days on Market for 60431, IL

How long does it take to sell a home in 60431, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days17 Days-39.2%

Summary: Homes in 60431 had an average of 17 days on market in Oct 2024, down by 39.2% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60431 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 31 homes were sold in 60431; 81% of homes were sold within 30 days, 19% 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 20 Days Ago

Newest Listings in 60431, IL

Nearby Markets to 60431, IL