Is 60640, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60640 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 60640 has remained a Seller's Market.

Key Takeaway

60640 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60640, IL

How much do homes in 60640, IL cost?

Median Sold Price

$388,547

$283/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$61,560(+18.8%)

Key Takeaway

Homes in 60640 have sold for 18.8% more than they did a year ago.

Summary: The median home sold price in 60640 was $388,547 in November 2024, up 18.8% from last year, and the median price per square foot was $283.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $169K$185K
+9.5%
2 $315K$361K
+14.6%
3 $530.5K$585K
+10.3%
4 $850K$881.7K
+3.7%
5+ $797.5K$865.5K
+8.5%

Summary: 60640 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.5%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 8.5%.

Median Sold Price Compared To Nearby Zip Codes

60640
+18.8%
60660
+16.2%
60613
+7.8%
60625
+6.4%

Housing Supply in 60640, IL

How many homes are available in 60640, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
185159-14.1%

Summary: The 60640 real estate market had 159 homes for sale in November 2024, a 14.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4946
-6.1%
2 6662
-6.1%
3 3121
-32.3%
4 1813
-27.8%
5+ 2117
-19.0%

Summary: The 60640 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.1%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 32.3%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes decreased by 19%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
6143-29.5%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60640, you may be able to get a good deal. 46.5% of homes here sold below asking price last month.

Summary: A total of 43 homes were sold or pending in 60640 in November 2024, down by 29.5% month-over-month. Of the 43 sold homes, 47% were sold under asking, 14% were sold at asking, and 40% were sold over asking.

Days on Market for 60640, IL

How long does it take to sell a home in 60640, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
40 Days17 Days-56.2%

Summary: Homes in 60640 had an average of 17 days on market in Nov 2024, down by 56.2% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60640 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 43 homes were sold in 60640; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 2% 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 17 Days Ago

Newest Listings in 60640, IL

Nearby Markets to 60640, IL