Is 60450, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60450 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60450 has remained a Seller's Market.

Key Takeaway

60450 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60450, IL

How much do homes in 60450, IL cost?

Median Sold Price

$265,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$2,833(-1.1%)

Key Takeaway

Homes in 60450 have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in 60450 was $265,000 in October 2024, down 1.1% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $61K$121.7K
+99.6%
2 $170K$190K
+11.8%
3 $252.9K$257.5K
+1.8%
4 $350K$355K
+1.4%
5+ $442.5K$350K
-20.9%

Summary: 60450 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 99.6%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 20.9%.

Median Sold Price Compared To Nearby Zip Codes

61360
+7.8%
60416
+4.1%
60447
+2.4%
60450
-1.1%
60444
-7.3%

Housing Supply in 60450, IL

How many homes are available in 60450, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6677+16.7%

Summary: The 60450 real estate market had 77 homes for sale in October 2024, a 16.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1312
-7.7%
3 3138
+22.6%
4 1923
+21.1%
5+ 34
+33.3%

Summary: The 60450 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1614-12.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60450, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in 60450 in October 2024, down by 12.5% month-over-month. Of the 14 sold homes, 14% were sold under asking, 21% were sold at asking, and 64% were sold over asking.

Days on Market for 60450, IL

How long does it take to sell a home in 60450, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days15 Days-58.0%

Summary: Homes in 60450 had an average of 15 days on market in Oct 2024, down by 58% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60450 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in 60450; 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 23 Days Ago

Newest Listings in 60450, IL

Nearby Markets to 60450, IL