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 December 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

$372,450

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$450(-0.1%)

Key Takeaway

The sold price of homes in 60503 has remained the same since last year.

Summary: The median home sold price in 60503 was $372,450 in December 2024, down 0.1% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $263K$277K
+5.3%
3 $369.9K$367K
-0.8%
4 $450K$475.5K
+5.7%
5+ $500K$670.6K
+34.1%

Summary: 60503 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 34.1%.

Median Sold Price Compared To Nearby Zip Codes

60504
+14.3%
60564
+9.9%
60543
+7.6%
60503
-0.1%

Housing Supply in 60503, IL

How many homes are available in 60503, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
5140-21.6%

Summary: The 60503 real estate market had 40 homes for sale in December 2024, a 21.6% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 1916
-15.8%
3 1916
-15.8%
4 105
-50.0%
5+ 33
0.0%

Summary: The 60503 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.8%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
2016-20.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 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. 50% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in 60503 in December 2024, down by 20.0% month-over-month. Of the 16 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% 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

Dec 2023Dec 2024CHANGE
12 Days12 Days-1.1%

Summary: Homes in 60503 had an average of 12 days on market in Dec 2024, down by 1.1% compared to last year.

Breakdown of Home Sale Times

14 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 60503 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 16 homes were sold in 60503; 88% 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 2 Days Ago

Newest Listings in 60503, IL

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