Is 60653, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60653 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 60653 was a Seller's Market.

Key Takeaway

60653 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60653, IL

How much do homes in 60653, IL cost?

Median Sold Price

$339,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$8,450(-2.4%)

Key Takeaway

Homes in 60653 have sold for 2.4% less than they did a year ago.

Summary: The median home sold price in 60653 was $339,000 in October 2024, down 2.4% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $169.9K$171.2K
+0.8%
2 $225K$215.1K
-4.4%
3 $358.5K$334.5K
-6.7%
4 $423.5K$484.9K
+14.5%
5+ $514K$699.5K
+36.1%

Summary: 60653 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 36.1%.

Median Sold Price Compared To Nearby Zip Codes

60609
+10.5%
60615
+9.6%
60605
+2.8%
60653
-2.4%
60616
-3.3%

Housing Supply in 60653, IL

How many homes are available in 60653, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
107140+30.8%

Summary: The 60653 real estate market had 140 homes for sale in October 2024, a 30.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 55
0.0%
2 2835
+25.0%
3 4655
+19.6%
4 1421
+50.0%
5+ 1424
+71.4%

Summary: The 60653 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 25%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 71.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
816+100.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60653, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in 60653 in October 2024, up by 100.0% month-over-month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% were sold over asking.

Days on Market for 60653, IL

How long does it take to sell a home in 60653, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
48 Days23 Days-50.7%

Summary: Homes in 60653 had an average of 23 days on market in Oct 2024, down by 50.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60653 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 60653; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 60653, IL

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