Is 60617, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60617 is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, 60617 was a Seller's Market.

Key Takeaway

60617 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60617, IL

How much do homes in 60617, IL cost?

Median Sold Price

$192,450

$120/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$19,450(+11.2%)

Key Takeaway

Homes in 60617 have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in 60617 was $192,450 in May 2024, up 11.2% from last year, and the median price per square foot was $120.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $160K$210.4K
+31.5%
2 $110K$106.5K
-3.2%
3 $160K$200K
+25.0%
4 $192K$205K
+6.8%
5+ $240K$206.5K
-14.0%

Summary: 60617 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.5%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 14%.

Median Sold Price Compared To Nearby Zip Codes

60633
+12.9%
60617
+11.2%
60619
-5.4%
60649
-12.0%

Housing Supply in 60617, IL

How many homes are available in 60617, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
260298+14.6%

Summary: The 60617 real estate market had 298 homes for sale in May 2024, a 14.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 3037
+23.3%
3 104120
+15.4%
4 6772
+7.5%
5+ 5767
+17.5%

Summary: The 60617 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 17.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4349+14.0%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60617, you may be able to get a good deal. 44.9% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in 60617 in May 2024, up by 14.0% month-over-month. Of the 49 sold homes, 45% were sold under asking, 18% were sold at asking, and 37% were sold over asking.

Days on Market for 60617, IL

How long does it take to sell a home in 60617, IL?

Average Sale Time

May 2023May 2024CHANGE
48 Days54 Days+13.3%

Summary: Homes in 60617 had an average of 54 days on market in May 2024, up by 13.3% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60617 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 49 homes were sold in 60617; 51% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 20% 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 1 Day Ago

Newest Listings in 60617, IL

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