Is 60538, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60538 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60538 has remained a Seller's Market.

Key Takeaway

60538 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60538, IL

How much do homes in 60538, IL cost?

Median Sold Price

$290,000

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,033(+5.5%)

Key Takeaway

Homes in 60538 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 60538 was $290,000 in October 2024, up 5.5% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $255K$170K
-33.3%
2 $232.4K$245K
+5.4%
3 $267.5K$280K
+4.7%
4 $358.5K$384K
+7.1%
5+ $349.9K$425K
+21.5%

Summary: 60538 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 21.5%.

Median Sold Price Compared To Nearby Zip Codes

60505
+17.8%
60543
+8.3%
60506
+7.7%
60538
+5.5%

Housing Supply in 60538, IL

How many homes are available in 60538, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6376+20.6%

Summary: The 60538 real estate market had 76 homes for sale in October 2024, a 20.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 85
-37.5%
3 3138
+22.6%
4 2026
+30.0%
5+ 35
+66.7%

Summary: The 60538 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1722+29.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60538, you could pay more than the asking price. 36.4% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in 60538 in October 2024, up by 29.4% month-over-month. Of the 22 sold homes, 32% were sold under asking, 32% were sold at asking, and 36% were sold over asking.

Days on Market for 60538, IL

How long does it take to sell a home in 60538, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days16 Days-4.7%

Summary: Homes in 60538 had an average of 16 days on market in Oct 2024, down by 4.7% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60538 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 22 homes were sold in 60538; 82% of homes were sold within 30 days, 18% 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 60538, IL

Nearby Markets to 60538, IL