Is 60048, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 60048 has remained a Seller's Market.
Housing Prices in 60048, IL
How much do homes in 60048, IL cost?
Median Sold Price
$552,625
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 60048 was $552,625 in May 2024, up 5.3% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $118K | $141K | +19.5% |
2 Bedrooms | $285.5K | $232.5K | -18.6% |
3 Bedrooms | $392.4K | $375K | -4.4% |
4 Bedrooms | $597.5K | $629.9K | +5.4% |
5+ Bedrooms | $790K | $760K | -3.8% |
Summary: 60048 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes decreased by 18.6%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 3.8%.
Housing Supply in 60048, IL
How many homes are available in 60048, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
121 | 128 | +5.8% |
Summary: The 60048 real estate market had 128 homes for sale in May 2024, a 5.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 15 | +15.4% |
3 Bedrooms | 33 | 33 | 0.0% |
4 Bedrooms | 55 | 55 | 0.0% |
5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The 60048 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 15.4%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 37 | +5.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in 60048 in May 2024, up by 5.7% month-over-month. Of the 37 sold homes, 35% were sold under asking, 19% were sold at asking, and 46% were sold over asking.
Days on Market for 60048, IL
How long does it take to sell a home in 60048, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 19 Days | -15.8% |
Summary: Homes in 60048 had an average of 19 days on market in May 2024, down by 15.8% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in 60048; 86% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.