Is 60623, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60623 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 60623 was a Seller's Market.

Key Takeaway

60623 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60623, IL

How much do homes in 60623, IL cost?

Median Sold Price

$280,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,000(+7.7%)

Key Takeaway

Homes in 60623 have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in 60623 was $280,000 in October 2024, up 7.7% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$129.9K
N/A
2 $163.5K$187.5K
+14.7%
3 $225.5K$240K
+6.4%
4 $194K$245K
+26.3%
5+ $292.5K$324.9K
+11.1%

Summary: 60623 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Zip Codes

60608
+12.7%
60624
+12.3%
60623
+7.7%
60804
+5.1%
60612
-10.1%

Housing Supply in 60623, IL

How many homes are available in 60623, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
107134+25.2%

Summary: The 60623 real estate market had 134 homes for sale in October 2024, a 25.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 44
0.0%
3 2728
+3.7%
4 1421
+50.0%
5+ 6281
+30.6%

Summary: The 60623 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 remained the same, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 30.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
17170.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60623, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in 60623 in October 2024, the same as the previous month. Of the 17 sold homes, 29% were sold under asking, 12% were sold at asking, and 59% were sold over asking.

Days on Market for 60623, IL

How long does it take to sell a home in 60623, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days33 Days+20.3%

Summary: Homes in 60623 had an average of 33 days on market in Oct 2024, up by 20.3% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60623 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 17 homes were sold in 60623; 71% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 18% 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 14 Days Ago

Newest Listings in 60623, IL

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