Is 60481, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60481 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60481 was a Seller's Market.

Key Takeaway

60481 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60481, IL

How much do homes in 60481, IL cost?

Median Sold Price

$203,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$18,000(+9.7%)

Key Takeaway

Homes in 60481 have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in 60481 was $203,000 in November 2024, up 9.7% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $111K$127K
+14.4%
2 $165K$175K
+6.1%
3 $231K$231.2K
0.1%
4 $275K$255K
-7.3%
5+ $273.5K$282.7K
+3.4%

Summary: 60481 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Zip Codes

60481
+9.7%
60416
+6.3%
60408
+3.0%
60410
+1.4%

Housing Supply in 60481, IL

How many homes are available in 60481, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4147+14.6%

Summary: The 60481 real estate market had 47 homes for sale in November 2024, a 14.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 910
+11.1%
2 613
+116.7%
3 2121
0.0%
4 33
0.0%
5+ 20
-100.0%

Summary: The 60481 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 116.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
156-60.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60481, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 60481 in November 2024, down by 60.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.

Days on Market for 60481, IL

How long does it take to sell a home in 60481, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days11 Days-63.2%

Summary: Homes in 60481 had an average of 11 days on market in Nov 2024, down by 63.2% compared to last year.

Breakdown of Home Sale Times

6 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 60481 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 6 homes were sold in 60481; 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 21 Days Ago

Newest Listings in 60481, IL

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