Is 60542, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60542 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 60542 has remained a Seller's Market.

Key Takeaway

60542 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60542, IL

How much do homes in 60542, IL cost?

Median Sold Price

$381,000

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$52,010(+15.8%)

Key Takeaway

Homes in 60542 have sold for 15.8% more than they did a year ago.

Summary: The median home sold price in 60542 was $381,000 in October 2024, up 15.8% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $210K-
N/A
2 $309.9K$370.9K
+19.7%
3 $300K$339.9K
+13.3%
4 $440K$455K
+3.4%
5+ $542.5K$555K
+2.3%

Summary: 60542 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 increased by 19.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 2.3%.

Median Sold Price Compared To Nearby Zip Codes

60505
+17.8%
60542
+15.8%
60510
+9.2%
60506
+7.7%

Housing Supply in 60542, IL

How many homes are available in 60542, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7266-8.3%

Summary: The 60542 real estate market had 66 homes for sale in October 2024, a 8.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2518
-28.0%
3 1924
+26.3%
4 2318
-21.7%
5+ 56
+20.0%

Summary: The 60542 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 28%, 3 bedroom homes increased by 26.3%, 4 bedroom homes decreased by 21.7%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3216-50.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60542, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in 60542 in October 2024, down by 50.0% month-over-month. Of the 16 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.

Days on Market for 60542, IL

How long does it take to sell a home in 60542, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days21 Days+90.7%

Summary: Homes in 60542 had an average of 21 days on market in Oct 2024, up by 90.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60542 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 60542; 75% of homes were sold within 30 days, 25% 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 60542, IL

Nearby Markets to 60542, IL