Is 60422, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60422 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60422 has remained a Seller's Market.

Key Takeaway

60422 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60422, IL

How much do homes in 60422, IL cost?

Median Sold Price

$350,000

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$47,500(+15.7%)

Key Takeaway

Homes in 60422 have sold for 15.7% more than they did a year ago.

Summary: The median home sold price in 60422 was $350,000 in October 2024, up 15.7% from last year, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$112K
N/A
2 $215K$200K
-7.0%
3 $265K$295K
+11.3%
4 $362.5K$400K
+10.3%
5+ $389K$504.4K
+29.7%

Summary: 60422 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 29.7%.

Median Sold Price Compared To Nearby Zip Codes

60422
+15.7%
60429
+11.4%
60461
+9.8%
60430
+7.0%
60478
+2.9%

Housing Supply in 60422, IL

How many homes are available in 60422, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4761+29.8%

Summary: The 60422 real estate market had 61 homes for sale in October 2024, a 29.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 810
+25.0%
3 1520
+33.3%
4 2024
+20.0%
5+ 46
+50.0%

Summary: The 60422 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
411+175.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60422, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 60422 in October 2024, up by 175.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% were sold over asking.

Days on Market for 60422, IL

How long does it take to sell a home in 60422, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days36 Days+74.5%

Summary: Homes in 60422 had an average of 36 days on market in Oct 2024, up by 74.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60422 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 60422; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% 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 60422, IL

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