Is 60643, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60643 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 60643 has remained a Seller's Market.

Key Takeaway

60643 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60643, IL

How much do homes in 60643, IL cost?

Median Sold Price

$230,816

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$11,683(-4.8%)

Key Takeaway

Homes in 60643 have sold for 4.8% less than they did a year ago.

Summary: The median home sold price in 60643 was $230,816 in May 2024, down 4.8% from last year, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $83.9K$112K
+33.4%
2 $157K$175K
+11.5%
3 $219.9K$220K
0.0%
4 $367K$292K
-20.4%
5+ $372.5K$315K
-15.4%

Summary: 60643 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.4%, 2 bedroom homes increased by 11.5%, 3 bedroom homes did not change, 4 bedroom homes decreased by 20.4%, and 5+ bedroom homes decreased by 15.4%.

Median Sold Price Compared To Nearby Zip Codes

60655
+12.4%
60805
+7.8%
60628
+5.1%
60406
-0.7%
60643
-4.8%

Housing Supply in 60643, IL

How many homes are available in 60643, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
183209+14.2%

Summary: The 60643 real estate market had 209 homes for sale in May 2024, a 14.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 54
-20.0%
2 2324
+4.3%
3 8995
+6.7%
4 4753
+12.8%
5+ 1933
+73.7%

Summary: The 60643 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 73.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4047+17.5%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60643, you may be able to get a good deal. 44.7% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in 60643 in May 2024, up by 17.5% month-over-month. Of the 47 sold homes, 45% were sold under asking, 17% were sold at asking, and 38% were sold over asking.

Days on Market for 60643, IL

How long does it take to sell a home in 60643, IL?

Average Sale Time

May 2023May 2024CHANGE
27 Days40 Days+46.2%

Summary: Homes in 60643 had an average of 40 days on market in May 2024, up by 46.2% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60643 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 47 homes were sold in 60643; 74% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 19% 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

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