Is 60527, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60527 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 60527 was a Seller's Market.

Key Takeaway

60527 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60527, IL

How much do homes in 60527, IL cost?

Median Sold Price

$455,000

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$76,400(+20.2%)

Key Takeaway

Homes in 60527 have sold for 20.2% more than they did a year ago.

Summary: The median home sold price in 60527 was $455,000 in October 2024, up 20.2% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $136.9K$140.2K
+2.4%
2 $255K$285K
+11.8%
3 $385K$430K
+11.7%
4 $715K$780.4K
+9.1%
5+ $1.0M$1.3M
+27.1%

Summary: 60527 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 27.1%.

Median Sold Price Compared To Nearby Zip Codes

60521
+20.9%
60527
+20.2%
60561
+18.5%
60514
+13.9%
60480
+10.4%

Housing Supply in 60527, IL

How many homes are available in 60527, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
138160+15.9%

Summary: The 60527 real estate market had 160 homes for sale in October 2024, a 15.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 35
+66.7%
2 4144
+7.3%
3 3842
+10.5%
4 3539
+11.4%
5+ 2130
+42.9%

Summary: The 60527 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3926-33.3%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60527, you may be able to get a good deal. 57.7% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in 60527 in October 2024, down by 33.3% month-over-month. Of the 26 sold homes, 58% were sold under asking, 8% were sold at asking, and 35% were sold over asking.

Days on Market for 60527, IL

How long does it take to sell a home in 60527, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days25 Days+3.0%

Summary: Homes in 60527 had an average of 25 days on market in Oct 2024, up by 3% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60527 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 26 homes were sold in 60527; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% 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 60527, IL

Nearby Markets to 60527, IL