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 4 Days Ago

Newest Listings in 60551, IL

Nearby Markets to 60551, IL