Is 60548, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60548 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60548 was a Seller's Market.

Key Takeaway

60548 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 60548, IL

How much do homes in 60548, IL cost?

Median Sold Price

$285,000

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$5,000(+1.8%)

Key Takeaway

Homes in 60548 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 60548 was $285,000 in November 2024, up 1.8% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $150K-
N/A
2 $176K$230K
+30.7%
3 $282K$290K
+2.8%
4 $336K$335K
-0.3%
5+ $345K$337.9K
-2.0%

Summary: 60548 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 2%.

Median Sold Price Compared To Nearby Zip Codes

60552
+33.6%
60545
+14.3%
60548
+1.8%

Housing Supply in 60548, IL

How many homes are available in 60548, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2831+10.7%

Summary: The 60548 real estate market had 31 homes for sale in November 2024, a 10.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 55
0.0%
3 1512
-20.0%
4 612
+100.0%
5+ 22
0.0%

Summary: The 60548 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
105-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60548, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in 60548 in November 2024, down by 50.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% were sold over asking.

Days on Market for 60548, IL

How long does it take to sell a home in 60548, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
30 Days13 Days-54.8%

Summary: Homes in 60548 had an average of 13 days on market in Nov 2024, down by 54.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60548 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in 60548; 80% of homes were sold within 30 days, 20% 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 17 Days Ago

Newest Listings in 60548, IL

Nearby Markets to 60548, IL