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 December 2023

Since last year, 60551 has remained a Seller'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

$280,000

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$10,050(+3.7%)

Key Takeaway

Homes in 60551 have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in 60551 was $280,000 in December 2024, up 3.7% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $189.9K$132K
-30.5%
3 $269.9K$269.9K
0%
4 $437.5K$402.4K
-8.0%
5+ $154.9K-
N/A

Summary: 60551 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.5%, 3 bedroom homes did not change, 4 bedroom homes decreased by 8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60548
+3.9%
60551
+3.7%

Housing Supply in 60551, IL

How many homes are available in 60551, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
14140.0%

Summary: The 60551 real estate market had 14 homes for sale in December 2024, the same as November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 11
0.0%
3 67
+16.7%
4 54
-20.0%
5+ 22
0.0%

Summary: The 60551 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer67%33%

Key Takeaway

If you're buying a home in 60551, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in 60551 in December 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% 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

Dec 2023Dec 2024CHANGE
32 Days9 Days-71.1%

Summary: Homes in 60551 had an average of 9 days on market in Dec 2024, down by 71.1% compared to last year.

Breakdown of Home Sale Times

3 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 Times100%

Key Takeaway

Many homes in 60551 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 3 homes were sold in 60551; 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 11 Days Ago

Newest Listings in 60551, IL

Nearby Markets to 60551, IL