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 5 Days Ago

Newest Listings in 60948, IL

Nearby Markets to 60948, IL