Is 60503, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60503 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60503 has remained a Seller's Market.

Key Takeaway

60503 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60503, IL

How much do homes in 60503, IL cost?

Median Sold Price

$389,500

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$21,510(+5.8%)

Key Takeaway

Homes in 60503 have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in 60503 was $389,500 in October 2024, up 5.8% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $259K$276K
+6.6%
3 $365.4K$370K
+1.2%
4 $447K$476K
+6.5%
5+ $500K$650K
+30.0%

Summary: 60503 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 30%.

Median Sold Price Compared To Nearby Zip Codes

60504
+12.5%
60564
+11.2%
60543
+8.3%
60503
+5.8%

Housing Supply in 60503, IL

How many homes are available in 60503, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6263+1.6%

Summary: The 60503 real estate market had 63 homes for sale in October 2024, a 1.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1826
+44.4%
3 2023
+15.0%
4 2112
-42.9%
5+ 32
-33.3%

Summary: The 60503 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 increased by 44.4%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1723+35.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60503, you could pay more than the asking price. 60.9% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in 60503 in October 2024, up by 35.3% month-over-month. Of the 23 sold homes, 26% were sold under asking, 13% were sold at asking, and 61% were sold over asking.

Days on Market for 60503, IL

How long does it take to sell a home in 60503, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days12 Days-14.5%

Summary: Homes in 60503 had an average of 12 days on market in Oct 2024, down by 14.5% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60503 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 23 homes were sold in 60503; 87% of homes were sold within 30 days, 13% 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 60503, IL

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