Is 60617, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60617 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60617 was a Seller's Market.

Key Takeaway

60617 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60617, IL

How much do homes in 60617, IL cost?

Median Sold Price

$199,771

$132/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$10,934(+5.8%)

Key Takeaway

Homes in 60617 have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in 60617 was $199,771 in November 2024, up 5.8% from last year, and the median price per square foot was $132.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $177.5K$265K
+49.3%
2 $91.5K$117.5K
+28.4%
3 $190.1K$204.4K
+7.5%
4 $190K$219.9K
+15.7%
5+ $247K$206.5K
-16.4%

Summary: 60617 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.3%, 2 bedroom homes increased by 28.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes decreased by 16.4%.

Median Sold Price Compared To Nearby Zip Codes

60649
+26.9%
60633
+17.7%
60619
+9.9%
60617
+5.8%

Housing Supply in 60617, IL

How many homes are available in 60617, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
270281+4.1%

Summary: The 60617 real estate market had 281 homes for sale in November 2024, a 4.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 3842
+10.5%
3 106118
+11.3%
4 5657
+1.8%
5+ 6761
-9.0%

Summary: The 60617 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 increased by 10.5%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5838-34.5%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60617, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in 60617 in November 2024, down by 34.5% month-over-month. Of the 38 sold homes, 55% were sold under asking, 21% were sold at asking, and 24% were sold over asking.

Days on Market for 60617, IL

How long does it take to sell a home in 60617, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
40 Days54 Days+34.5%

Summary: Homes in 60617 had an average of 54 days on market in Nov 2024, up by 34.5% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60617 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 38 homes were sold in 60617; 50% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 24% 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 60617, IL

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