Is 60706, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60706 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60706 has remained a Seller's Market.

Key Takeaway

60706 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60706, IL

How much do homes in 60706, IL cost?

Median Sold Price

$375,000

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$15,000(+4.2%)

Key Takeaway

Homes in 60706 have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in 60706 was $375,000 in December 2024, up 4.2% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $172K$177.7K
+3.3%
2 $290K$300K
+3.4%
3 $370K$386.5K
+4.5%
4 $485K$470K
-3.1%
5+ $628.5K$765K
+21.7%

Summary: 60706 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 21.7%.

Median Sold Price Compared To Nearby Zip Codes

60656
+17.3%
60631
+6.8%
60176
+5.8%
60706
+4.2%
60634
+2.9%

Housing Supply in 60706, IL

How many homes are available in 60706, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
7369-5.5%

Summary: The 60706 real estate market had 69 homes for sale in December 2024, a 5.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 12
+100.0%
2 2020
0.0%
3 3229
-9.4%
4 1512
-20.0%
5+ 56
+20.0%

Summary: The 60706 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 remained the same, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1629+81.3%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60706, you may be able to get a good deal. 65.5% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in 60706 in December 2024, up by 81.3% month-over-month. Of the 29 sold homes, 66% were sold under asking, 7% were sold at asking, and 28% were sold over asking.

Days on Market for 60706, IL

How long does it take to sell a home in 60706, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
61 Days22 Days-63.6%

Summary: Homes in 60706 had an average of 22 days on market in Dec 2024, down by 63.6% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60706 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 29 homes were sold in 60706; 83% of homes were sold within 30 days, 17% 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 6 Days Ago

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