Is 60514, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60514 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60514 has remained a Seller's Market.

Key Takeaway

60514 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60514, IL

How much do homes in 60514, IL cost?

Median Sold Price

$683,250

$293/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$83,250(+13.9%)

Key Takeaway

Homes in 60514 have sold for 13.9% more than they did a year ago.

Summary: The median home sold price in 60514 was $683,250 in October 2024, up 13.9% from last year, and the median price per square foot was $293.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $135K$207.5K
+53.7%
2 $247K$290K
+17.4%
3 $401K$500K
+24.7%
4 $910K$1.0M
+18.1%
5+ $1.3M$1.2M
-6.0%

Summary: 60514 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.7%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 24.7%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes decreased by 6%.

Median Sold Price Compared To Nearby Zip Codes

60521
+20.9%
60527
+20.2%
60514
+13.9%
60559
+12.1%

Housing Supply in 60514, IL

How many homes are available in 60514, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3629-19.4%

Summary: The 60514 real estate market had 29 homes for sale in October 2024, a 19.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 56
+20.0%
3 1210
-16.7%
4 108
-20.0%
5+ 84
-50.0%

Summary: The 60514 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 20%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
157-53.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60514, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 60514 in October 2024, down by 53.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.

Days on Market for 60514, IL

How long does it take to sell a home in 60514, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
42 Days11 Days-73.2%

Summary: Homes in 60514 had an average of 11 days on market in Oct 2024, down by 73.2% compared to last year.

Breakdown of Home Sale Times

7 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 60514 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 7 homes were sold in 60514; 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 14 Days Ago

Newest Listings in 60514, IL

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