Is 60042, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60042 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60042 has remained a Seller's Market.

Key Takeaway

60042 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60042, IL

How much do homes in 60042, IL cost?

Median Sold Price

$266,100

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,600(+5.4%)

Key Takeaway

Homes in 60042 have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in 60042 was $266,100 in October 2024, up 5.4% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $166.2K$159.9K
-3.8%
2 $207.5K$228K
+9.9%
3 $260K$271.2K
+4.3%
4 $387K$350K
-9.6%
5+ $446.8K$402.5K
-9.9%

Summary: 60042 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes decreased by 9.9%.

Median Sold Price Compared To Nearby Zip Codes

60051
+8.6%
60010
+6.9%
60042
+5.4%
60084
+4.5%

Housing Supply in 60042, IL

How many homes are available in 60042, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3136+16.1%

Summary: The 60042 real estate market had 36 homes for sale in October 2024, a 16.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 53
-40.0%
3 2123
+9.5%
4 48
+100.0%
5+ 01
+100.0%

Summary: The 60042 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 40%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60042, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in 60042 in October 2024, up by 27.3% month-over-month. Of the 14 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.

Days on Market for 60042, IL

How long does it take to sell a home in 60042, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days15 Days+36.3%

Summary: Homes in 60042 had an average of 15 days on market in Oct 2024, up by 36.3% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60042 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in 60042; 79% of homes were sold within 30 days, 21% 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 4 Days Ago

Newest Listings in 60042, IL

Nearby Markets to 60042, IL