Is 60631, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60631 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 60631 has remained a Seller's Market.

Key Takeaway

60631 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60631, IL

How much do homes in 60631, IL cost?

Median Sold Price

$393,333

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$13,583(+3.6%)

Key Takeaway

Homes in 60631 have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in 60631 was $393,333 in May 2024, up 3.6% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $133.5K$163.5K
+22.5%
2 $238K$235K
-1.3%
3 $400K$425K
+6.3%
4 $520K$591K
+13.7%
5+ $610K$702.5K
+15.2%

Summary: 60631 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.5%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Zip Codes

60646
+8.4%
60068
+6.5%
60706
+5.6%
60631
+3.6%
60656
-2.1%

Housing Supply in 60631, IL

How many homes are available in 60631, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
99114+15.2%

Summary: The 60631 real estate market had 114 homes for sale in May 2024, a 15.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 67
+16.7%
2 3128
-9.7%
3 3345
+36.4%
4 2427
+12.5%
5+ 57
+40.0%

Summary: The 60631 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 9.7%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3829-23.7%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60631, you may be able to get a good deal. 37.9% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in 60631 in May 2024, down by 23.7% month-over-month. Of the 29 sold homes, 38% were sold under asking, 24% were sold at asking, and 38% were sold over asking.

Days on Market for 60631, IL

How long does it take to sell a home in 60631, IL?

Average Sale Time

May 2023May 2024CHANGE
26 Days16 Days-39.1%

Summary: Homes in 60631 had an average of 16 days on market in May 2024, down by 39.1% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60631 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 29 homes were sold in 60631; 86% of homes were sold within 30 days, 14% 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 1 Day Ago

Newest Listings in 60631, IL

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