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 November 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

$235,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$34,333(+17.1%)

Key Takeaway

Homes in 60505 have sold for 17.1% more than they did a year ago.

Summary: The median home sold price in 60505 was $235,000 in November 2024, up 17.1% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $113.3K$133.5K
+17.8%
2 $175.5K$200K
+14.0%
3 $213.5K$251K
+17.6%
4 $221K$262.4K
+18.8%
5+ $266.7K$302.5K
+13.4%

Summary: 60505 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 13.4%.

Median Sold Price Compared To Nearby Zip Codes

60505
+17.1%
60504
+13.6%
60506
+9.6%
60538
+6.0%
60502
+5.7%

Housing Supply in 60505, IL

How many homes are available in 60505, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9380-14.0%

Summary: The 60505 real estate market had 80 homes for sale in November 2024, a 14.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1111
0.0%
2 3423
-32.4%
3 2624
-7.7%
4 1619
+18.8%
5+ 63
-50.0%

Summary: The 60505 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 32.4%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3227-15.6%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

12 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. 44.4% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in 60505 in November 2024, down by 15.6% month-over-month. Of the 27 sold homes, 37% were sold under asking, 19% were sold at asking, and 44% 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

Nov 2023Nov 2024CHANGE
20 Days18 Days-7.4%

Summary: Homes in 60505 had an average of 18 days on market in Nov 2024, down by 7.4% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

5 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 November 2024, 27 homes were sold in 60505; 81% of homes were sold within 30 days, 19% 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 22 Days Ago

Newest Listings in 60505, IL

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