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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60478 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60478 has remained a Seller's Market.

Key Takeaway

60478 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60478, IL

How much do homes in 60478, IL cost?

Median Sold Price

$196,000

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$6,100(+3.2%)

Key Takeaway

Homes in 60478 have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in 60478 was $196,000 in December 2024, up 3.2% from last year, and the median price per square foot was $137.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $450K$45K
-90.0%
2 $147K$122.4K
-16.7%
3 $185K$190K
+2.7%
4 $207.9K$208.9K
0.5%
5+ $280K$296.6K
+5.9%

Summary: 60478 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 90%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Zip Codes

60428
+16.8%
60422
+10.1%
60477
+5.8%
60429
+3.7%
60478
+3.2%

Housing Supply in 60478, IL

How many homes are available in 60478, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
119132+10.9%

Summary: The 60478 real estate market had 132 homes for sale in December 2024, a 10.9% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 35
+66.7%
2 913
+44.4%
3 5059
+18.0%
4 5047
-6.0%
5+ 78
+14.3%

Summary: The 60478 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 18%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
2025+25.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60478, you could pay more than the asking price. 36% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in 60478 in December 2024, up by 25.0% month-over-month. Of the 25 sold homes, 32% were sold under asking, 32% were sold at asking, and 36% 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

Dec 2023Dec 2024CHANGE
45 Days45 Days0.0%

Summary: Homes in 60478 had an average of 45 days on market in Dec 2024, the same as last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 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 December 2024, 25 homes were sold in 60478; 56% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 12% 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 2 Days Ago

Newest Listings in 60478, IL

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