Is 60631, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60631 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60631 has remained a Seller's Market.

Key Takeaway

60631 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60631, IL

How much do homes in 60631, IL cost?

Median Sold Price

$411,666

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$26,166(+6.8%)

Key Takeaway

Homes in 60631 have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in 60631 was $411,666 in December 2024, up 6.8% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $155K$154.9K
0%
2 $260K$225K
-13.5%
3 $416K$446K
+7.2%
4 $587.9K$543.5K
-7.6%
5+ $629.9K$712.5K
+13.1%

Summary: 60631 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.5%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes increased by 13.1%.

Median Sold Price Compared To Nearby Zip Codes

60656
+17.3%
60631
+6.8%
60068
+6.2%
60646
+5.3%
60706
+4.2%

Housing Supply in 60631, IL

How many homes are available in 60631, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
7869-11.5%

Summary: The 60631 real estate market had 69 homes for sale in December 2024, a 11.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 97
-22.2%
2 2420
-16.7%
3 2625
-3.8%
4 1413
-7.1%
5+ 54
-20.0%

Summary: The 60631 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1723+35.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60631, you may be able to get a good deal. 60.9% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in 60631 in December 2024, up by 35.3% month-over-month. Of the 23 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.

Days on Market for 60631, IL

How long does it take to sell a home in 60631, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
29 Days25 Days-14.4%

Summary: Homes in 60631 had an average of 25 days on market in Dec 2024, down by 14.4% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60631 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 23 homes were sold in 60631; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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 4 Days Ago

Newest Listings in 60631, IL

Nearby Markets to 60631, IL