Is 60940, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60940 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60940 was a Seller's Market.

Key Takeaway

60940 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60940, IL

How much do homes in 60940, IL cost?

Median Sold Price

$265,900

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$27,900(+11.7%)

Key Takeaway

Homes in 60940 have sold for 11.7% more than they did a year ago.

Summary: The median home sold price in 60940 was $265,900 in November 2024, up 11.7% from last year, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$92.2K
N/A
2 $204.4K$250K
+22.3%
3 $238K$250K
+5.0%
4 $262.4K$342.5K
+30.5%
5+ -$357K
N/A

Summary: 60940 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 30.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60954
+13.3%
60940
+11.7%
60468
+8.7%
60401
+7.0%

Housing Supply in 60940, IL

How many homes are available in 60940, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1210-16.7%

Summary: The 60940 real estate market had 10 homes for sale in November 2024, a 16.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 00
0.0%
3 87
-12.5%
4 43
-25.0%
5+ 00
0.0%

Summary: The 60940 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60940, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 60940 in November 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 60940, IL

How long does it take to sell a home in 60940, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
37 Days14 Days-62.2%

Summary: Homes in 60940 had an average of 14 days on market in Nov 2024, down by 62.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60940 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1 homes were sold in 60940; 100% of homes were sold within 30 days, 0% 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 4 Days Ago

Newest Listings in 60940, IL

Nearby Markets to 60940, IL