Is 60062, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60062 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60062 has remained a Seller's Market.

Key Takeaway

60062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60062, IL

How much do homes in 60062, IL cost?

Median Sold Price

$611,000

$264/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$66,833(+12.3%)

Key Takeaway

Homes in 60062 have sold for 12.3% more than they did a year ago.

Summary: The median home sold price in 60062 was $611,000 in October 2024, up 12.3% from last year, and the median price per square foot was $264.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $145.4K$167.6K
+15.3%
2 $325K$365.6K
+12.5%
3 $487.5K$604K
+23.9%
4 $723K$795K
+10.0%
5+ $1.0M$1.1M
+16.5%

Summary: 60062 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 23.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 16.5%.

Median Sold Price Compared To Nearby Zip Codes

60022
+20.2%
60025
+13.4%
60062
+12.3%
60026
+7.2%

Housing Supply in 60062, IL

How many homes are available in 60062, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
162173+6.8%

Summary: The 60062 real estate market had 173 homes for sale in October 2024, a 6.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 54
-20.0%
2 5155
+7.8%
3 4749
+4.3%
4 3942
+7.7%
5+ 2023
+15.0%

Summary: The 60062 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 15%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4240-4.8%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60062, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in 60062 in October 2024, down by 4.8% month-over-month. Of the 40 sold homes, 48% were sold under asking, 13% were sold at asking, and 40% were sold over asking.

Days on Market for 60062, IL

How long does it take to sell a home in 60062, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days37 Days+16.1%

Summary: Homes in 60062 had an average of 37 days on market in Oct 2024, up by 16.1% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60062 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 40 homes were sold in 60062; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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 14 Days Ago

Newest Listings in 60062, IL

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