Is 60554, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60554 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60554 has remained a Seller's Market.

Key Takeaway

60554 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60554, IL

How much do homes in 60554, IL cost?

Median Sold Price

$450,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$60,000(+15.4%)

Key Takeaway

Homes in 60554 have sold for 15.4% more than they did a year ago.

Summary: The median home sold price in 60554 was $450,000 in October 2024, up 15.4% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $254.9K$297.4K
+16.7%
3 $345K$375K
+8.7%
4 $436.5K$475K
+8.8%
5+ $530K$548K
+3.4%

Summary: 60554 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Zip Codes

60542
+15.8%
60554
+15.4%
60506
+7.7%
60511
-15.5%

Housing Supply in 60554, IL

How many homes are available in 60554, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4957+16.3%

Summary: The 60554 real estate market had 57 homes for sale in October 2024, a 16.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 65
-16.7%
3 1622
+37.5%
4 2022
+10.0%
5+ 78
+14.3%

Summary: The 60554 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 decreased by 16.7%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60554, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in 60554 in October 2024, up by 7.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 36% were sold at asking, and 43% were sold over asking.

Days on Market for 60554, IL

How long does it take to sell a home in 60554, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days23 Days-3.3%

Summary: Homes in 60554 had an average of 23 days on market in Oct 2024, down by 3.3% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60554 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in 60554; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% 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 60554, IL

Nearby Markets to 60554, IL