Is 60622, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60622 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60622 has remained a Seller's Market.

Key Takeaway

60622 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60622, IL

How much do homes in 60622, IL cost?

Median Sold Price

$640,000

$342/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$40,235(+6.7%)

Key Takeaway

Homes in 60622 have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in 60622 was $640,000 in December 2024, up 6.7% from last year, and the median price per square foot was $342.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $275K$290K
+5.5%
2 $475K$510K
+7.4%
3 $643.8K$693K
+7.6%
4 $885K$900.5K
+1.8%
5+ $940K$1.1M
+17.0%

Summary: 60622 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 17%.

Median Sold Price Compared To Nearby Zip Codes

60647
+10.1%
60642
+7.1%
60622
+6.7%
60614
+5.4%
60612
-0.3%

Housing Supply in 60622, IL

How many homes are available in 60622, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
218184-15.6%

Summary: The 60622 real estate market had 184 homes for sale in December 2024, a 15.6% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 67
+16.7%
2 7663
-17.1%
3 7558
-22.7%
4 2018
-10.0%
5+ 4138
-7.3%

Summary: The 60622 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 17.1%, 3 bedroom homes decreased by 22.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 7.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
5156+9.8%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60622, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 56 homes were sold or pending in 60622 in December 2024, up by 9.8% month-over-month. Of the 56 sold homes, 75% were sold under asking, 11% were sold at asking, and 14% were sold over asking.

Days on Market for 60622, IL

How long does it take to sell a home in 60622, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
27 Days33 Days+22.5%

Summary: Homes in 60622 had an average of 33 days on market in Dec 2024, up by 22.5% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60622 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 56 homes were sold in 60622; 61% of homes were sold within 30 days, 30% 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 2 Days Ago

Newest Listings in 60622, IL

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