Is 60620, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60620 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 60620 was a Seller's Market.

Key Takeaway

60620 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60620, IL

How much do homes in 60620, IL cost?

Median Sold Price

$215,000

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,033(+7.5%)

Key Takeaway

Homes in 60620 have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in 60620 was $215,000 in October 2024, up 7.5% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $40K$304K
+660.0%
2 $117.5K$135K
+14.9%
3 $182K$190K
+4.4%
4 $221.5K$210.1K
-5.1%
5+ $270K$296K
+9.6%

Summary: 60620 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 660%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes increased by 9.6%.

Median Sold Price Compared To Nearby Zip Codes

60621
+33.4%
60636
+21.5%
60620
+7.5%
60619
+4.3%
60643
+4.3%

Housing Supply in 60620, IL

How many homes are available in 60620, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
256332+29.7%

Summary: The 60620 real estate market had 332 homes for sale in October 2024, a 29.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2837
+32.1%
3 101134
+32.7%
4 6382
+30.2%
5+ 6277
+24.2%

Summary: The 60620 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 32.1%, 3 bedroom homes increased by 32.7%, 4 bedroom homes increased by 30.2%, and 5+ bedroom homes increased by 24.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3948+23.1%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60620, you may be able to get a good deal. 42.6% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in 60620 in October 2024, up by 23.1% month-over-month. Of the 47 sold homes, 43% were sold under asking, 34% were sold at asking, and 23% were sold over asking.

Days on Market for 60620, IL

How long does it take to sell a home in 60620, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
58 Days33 Days-42.4%

Summary: Homes in 60620 had an average of 33 days on market in Oct 2024, down by 42.4% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60620 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 48 homes were sold in 60620; 50% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 4% 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 23 Days Ago

Newest Listings in 60620, IL

Nearby Markets to 60620, IL