Is 60478, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60478 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 60478 was a Seller's Market.

Key Takeaway

60478 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60478, IL

How much do homes in 60478, IL cost?

Median Sold Price

$195,000

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,550(+2.9%)

Key Takeaway

Homes in 60478 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 60478 was $195,000 in October 2024, up 2.9% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $270K$52.5K
-80.6%
2 $147K$122.4K
-16.7%
3 $180.9K$195K
+7.8%
4 $215K$205K
-4.7%
5+ $260K$296.6K
+14.1%

Summary: 60478 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 80.6%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 14.1%.

Median Sold Price Compared To Nearby Zip Codes

60428
+16.4%
60422
+15.7%
60429
+11.4%
60477
+6.8%
60478
+2.9%

Housing Supply in 60478, IL

How many homes are available in 60478, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
113129+14.2%

Summary: The 60478 real estate market had 129 homes for sale in October 2024, a 14.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 34
+33.3%
2 911
+22.2%
3 5256
+7.7%
4 4048
+20.0%
5+ 910
+11.1%

Summary: The 60478 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1510-33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60478, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in 60478 in October 2024, down by 33.3% month-over-month. Of the 10 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for 60478, IL

How long does it take to sell a home in 60478, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days10 Days-62.0%

Summary: Homes in 60478 had an average of 10 days on market in Oct 2024, down by 62% compared to last year.

Breakdown of Home Sale Times

9 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 60478 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in 60478; 90% of homes were sold within 30 days, 10% 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 60478, IL

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