Is 60607, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60607 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60607 has remained a Seller's Market.

Key Takeaway

60607 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60607, IL

How much do homes in 60607, IL cost?

Median Sold Price

$474,800

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,633(+2.3%)

Key Takeaway

Homes in 60607 have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in 60607 was $474,800 in October 2024, up 2.3% from last year, and the median price per square foot was $382.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $298.9K$326K
+9.0%
2 $435K$467.5K
+7.5%
3 $797.5K$945K
+18.5%
4 $1.4M$2.4M
+78.5%
5+ $1.1M$945K
-18.2%

Summary: 60607 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 78.5%, and 5+ bedroom homes decreased by 18.2%.

Median Sold Price Compared To Nearby Zip Codes

60607
+2.3%
60606
-1.1%
60661
-5.6%

Housing Supply in 60607, IL

How many homes are available in 60607, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
179207+15.6%

Summary: The 60607 real estate market had 207 homes for sale in October 2024, a 15.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 3440
+17.6%
2 88105
+19.3%
3 3441
+20.6%
4 1412
-14.3%
5+ 99
0.0%

Summary: The 60607 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 20.6%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3538+8.6%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60607, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in 60607 in October 2024, up by 8.6% month-over-month. Of the 38 sold homes, 50% were sold under asking, 13% were sold at asking, and 37% were sold over asking.

Days on Market for 60607, IL

How long does it take to sell a home in 60607, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days26 Days-2.8%

Summary: Homes in 60607 had an average of 26 days on market in Oct 2024, down by 2.8% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60607 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 38 homes were sold in 60607; 68% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 3% 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 13 Days Ago

Newest Listings in 60607, IL

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