Is 60585, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60585 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 60585 has remained a Seller's Market.

Key Takeaway

60585 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60585, IL

How much do homes in 60585, IL cost?

Median Sold Price

$528,500

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$52,999(+11.1%)

Key Takeaway

Homes in 60585 have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in 60585 was $528,500 in November 2024, up 11.1% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $325K$311K
-4.3%
3 $395.5K$430K
+8.7%
4 $519.9K$570K
+9.6%
5+ $600K$666.2K
+11.0%

Summary: 60585 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 decreased by 4.3%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 11%.

Median Sold Price Compared To Nearby Zip Codes

60564
+12.3%
60585
+11.1%
60490
+10.4%
60544
+9.6%
60543
+6.6%

Housing Supply in 60585, IL

How many homes are available in 60585, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
106108+1.9%

Summary: The 60585 real estate market had 108 homes for sale in November 2024, a 1.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 98
-11.1%
3 1822
+22.2%
4 6161
0.0%
5+ 1817
-5.6%

Summary: The 60585 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 decreased by 11.1%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2231+40.9%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60585, you may be able to get a good deal. 67.7% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in 60585 in November 2024, up by 40.9% month-over-month. Of the 31 sold homes, 68% were sold under asking, 16% were sold at asking, and 16% were sold over asking.

Days on Market for 60585, IL

How long does it take to sell a home in 60585, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
14 Days26 Days+81.7%

Summary: Homes in 60585 had an average of 26 days on market in Nov 2024, up by 81.7% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60585 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 31 homes were sold in 60585; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% 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 22 Days Ago

Newest Listings in 60585, IL

Nearby Markets to 60585, IL