Is 60551, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60551 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 60551 was a Buyer's Market.

Key Takeaway

60551 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60551, IL

How much do homes in 60551, IL cost?

Median Sold Price

$402,450

$170/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$32,450(+8.8%)

Key Takeaway

Homes in 60551 have sold for 8.8% more than they did a month ago.

Summary: The median home sold price in 60551 was $402,450 in October 2024, up 8.8% from last month, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $370K-
N/A
4 -$402.4K
N/A
5+ --
N/A

Summary: 60551 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60531
+76.2%
60551
+8.8%

Housing Supply in 60551, IL

How many homes are available in 60551, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
910+11.1%

Summary: The 60551 real estate market had 10 homes for sale in October 2024, a 11.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 44
0.0%
4 34
+33.3%
5+ 11
0.0%

Summary: The 60551 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60551, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 60551 in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 60551, IL

How long does it take to sell a home in 60551, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
121 Days19 Days-83.9%

Summary: Homes in 60551 had an average of 19 days on market in Oct 2024, down by 83.9% compared to last month.

Breakdown of Home Sale Times

1 Home Was 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 60551 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 60551; 50% of homes were sold within 30 days, 50% 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 20 Days Ago

Newest Listings in 60551, IL

Nearby Markets to 60551, IL