Is 60505, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60505 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60505 has remained a Seller's Market.

Key Takeaway

60505 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60505, IL

How much do homes in 60505, IL cost?

Median Sold Price

$235,666

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,666(+17.8%)

Key Takeaway

Homes in 60505 have sold for 17.8% more than they did a year ago.

Summary: The median home sold price in 60505 was $235,666 in October 2024, up 17.8% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $113.3K$129.5K
+14.3%
2 $170.2K$193.5K
+13.7%
3 $215K$250K
+16.3%
4 $224K$262K
+17.0%
5+ $263.2K$301.2K
+14.4%

Summary: 60505 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 14.4%.

Median Sold Price Compared To Nearby Zip Codes

60505
+17.8%
60504
+12.5%
60506
+7.7%
60502
+7.0%
60538
+5.5%

Housing Supply in 60505, IL

How many homes are available in 60505, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7899+26.9%

Summary: The 60505 real estate market had 99 homes for sale in October 2024, a 26.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 812
+50.0%
2 2532
+28.0%
3 2432
+33.3%
4 1717
0.0%
5+ 46
+50.0%

Summary: The 60505 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2429+20.8%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60505, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in 60505 in October 2024, up by 20.8% month-over-month. Of the 29 sold homes, 31% were sold under asking, 24% were sold at asking, and 45% were sold over asking.

Days on Market for 60505, IL

How long does it take to sell a home in 60505, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days14 Days-6.6%

Summary: Homes in 60505 had an average of 14 days on market in Oct 2024, down by 6.6% compared to last year.

Breakdown of Home Sale Times

26 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 60505 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 29 homes were sold in 60505; 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 4 Days Ago

Newest Listings in 60505, IL

Nearby Markets to 60505, IL