Is 60162, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60162 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60162 was a Seller's Market.

Key Takeaway

60162 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60162, IL

How much do homes in 60162, IL cost?

Median Sold Price

$274,500

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,500(+7.6%)

Key Takeaway

Homes in 60162 have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in 60162 was $274,500 in November 2024, up 7.6% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $132K$141.5K
+7.2%
2 $206.7K$242.3K
+17.2%
3 $265K$290K
+9.4%
4 $296.2K$353.9K
+19.5%
5+ $387.6K-
N/A

Summary: 60162 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60126
+16.0%
60154
+11.0%
60162
+7.6%
60104
+5.6%
60163
-7.8%

Housing Supply in 60162, IL

How many homes are available in 60162, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1415+7.1%

Summary: The 60162 real estate market had 15 homes for sale in November 2024, a 7.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 64
-33.3%
4 34
+33.3%
5+ 12
+100.0%

Summary: The 60162 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
52-60.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60162, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 60162 in November 2024, down by 60.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 60162, IL

How long does it take to sell a home in 60162, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
8 Days159 Days+1887.5%

Summary: Homes in 60162 had an average of 159 days on market in Nov 2024, up by 1887.5% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 60162 has remained consistent over time.

Summary: During November 2024, 2 homes were sold in 60162; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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 17 Days Ago

Newest Listings in 60162, IL

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