Is 60948, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60948 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60948 has remained a Seller's Market.

Key Takeaway

60948 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60948, IL

How much do homes in 60948, IL cost?

Median Sold Price

$217,500

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$36,500(+20.2%)

Key Takeaway

Homes in 60948 have sold for 20.2% more than they did a year ago.

Summary: The median home sold price in 60948 was $217,500 in October 2024, up 20.2% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $219.9K$220K
0.0%
3 $181K$225K
+24.3%
4 $164K$190.5K
+16.2%
5+ $228.9K$249.9K
+9.2%

Summary: 60948 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 24.3%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Zip Codes

60948
+20.2%
60957
+6.7%

Housing Supply in 60948, IL

How many homes are available in 60948, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2115-28.6%

Summary: The 60948 real estate market had 15 homes for sale in October 2024, a 28.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 42
-50.0%
3 810
+25.0%
4 72
-71.4%
5+ 21
-50.0%

Summary: The 60948 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 decreased by 50%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 71.4%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
93-66.7%

Asking Price vs. Sold Price

3 Homes Were 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 60948, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 60948 in October 2024, down by 66.7% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 60948, IL

How long does it take to sell a home in 60948, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
6 Days36 Days+511.1%

Summary: Homes in 60948 had an average of 36 days on market in Oct 2024, up by 511.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 60948 has remained consistent over time.

Summary: During October 2024, 3 homes were sold in 60948; 33% of homes were sold within 30 days, 67% 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 21 Days Ago

Newest Listings in 60948, IL

Nearby Markets to 60948, IL