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 20 Days Ago

Newest Listings in 60542, IL

Nearby Markets to 60542, IL