Is 60605, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60605 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 60605 was a Seller's Market.

Key Takeaway

60605 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60605, IL

How much do homes in 60605, IL cost?

Median Sold Price

$367,350

$318/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$9,850(+2.8%)

Key Takeaway

Homes in 60605 have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in 60605 was $367,350 in October 2024, up 2.8% from last year, and the median price per square foot was $318.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $257.5K$265K
+2.9%
2 $408.5K$412.5K
+1.0%
3 $650K$689K
+6.0%
4 $1.0M$1.0M
0.0%
5+ $1.0M-
N/A

Summary: 60605 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60601
+4.1%
60605
+2.8%
60607
+2.3%

Housing Supply in 60605, IL

How many homes are available in 60605, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
193236+22.3%

Summary: The 60605 real estate market had 236 homes for sale in October 2024, a 22.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 6060
0.0%
2 84115
+36.9%
3 4353
+23.3%
4 68
+33.3%
5+ 00
0.0%

Summary: The 60605 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 increased by 36.9%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2933+13.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60605, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in 60605 in October 2024, up by 13.8% month-over-month. Of the 33 sold homes, 45% were sold under asking, 15% were sold at asking, and 39% were sold over asking.

Days on Market for 60605, IL

How long does it take to sell a home in 60605, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
33 Days41 Days+25.3%

Summary: Homes in 60605 had an average of 41 days on market in Oct 2024, up by 25.3% compared to last year.

Breakdown of Home Sale Times

22 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 60605 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 33 homes were sold in 60605; 67% of homes were sold within 30 days, 27% 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 21 Days Ago

Newest Listings in 60605, IL

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