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 December 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

$220,750

$125/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$11,416(+5.5%)

Key Takeaway

Homes in 60620 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 60620 was $220,750 in December 2024, up 5.5% from last year, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $40K$263.5K
+558.8%
2 $116.2K$128.5K
+10.5%
3 $182K$195K
+7.1%
4 $224.9K$215K
-4.4%
5+ $274K$317K
+15.7%

Summary: 60620 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 558.8%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes increased by 15.7%.

Median Sold Price Compared To Nearby Zip Codes

60621
+31.0%
60636
+21.2%
60619
+15.2%
60643
+8.3%
60620
+5.5%

Housing Supply in 60620, IL

How many homes are available in 60620, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
273291+6.6%

Summary: The 60620 real estate market had 291 homes for sale in December 2024, a 6.6% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 12
+100.0%
2 3129
-6.5%
3 117119
+1.7%
4 6277
+24.2%
5+ 6264
+3.2%

Summary: The 60620 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 3.2%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
4045+12.5%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 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. 57.8% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in 60620 in December 2024, up by 12.5% month-over-month. Of the 45 sold homes, 58% were sold under asking, 20% were sold at asking, and 22% 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

Dec 2023Dec 2024CHANGE
51 Days37 Days-28.0%

Summary: Homes in 60620 had an average of 37 days on market in Dec 2024, down by 28% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

5 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 December 2024, 45 homes were sold in 60620; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% 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 2 Days Ago

Newest Listings in 60620, IL

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