Is 60642, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60642 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 60642 has remained a Seller's Market.

Key Takeaway

60642 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60642, IL

How much do homes in 60642, IL cost?

Median Sold Price

$600,000

$340/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$40,000(+7.1%)

Key Takeaway

Homes in 60642 have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in 60642 was $600,000 in December 2024, up 7.1% from last year, and the median price per square foot was $340.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $331K$330K
-0.3%
2 $471.2K$465K
-1.3%
3 $673.7K$705K
+4.6%
4 $742K$890K
+19.9%
5+ $1.1M$921K
-17.1%

Summary: 60642 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.3%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes decreased by 17.1%.

Median Sold Price Compared To Nearby Zip Codes

60610
+11.9%
60642
+7.1%
60622
+6.7%
60614
+5.4%
60654
+2.6%

Housing Supply in 60642, IL

How many homes are available in 60642, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
9384-9.7%

Summary: The 60642 real estate market had 84 homes for sale in December 2024, a 9.7% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 64
-33.3%
2 3028
-6.7%
3 3934
-12.8%
4 810
+25.0%
5+ 108
-20.0%

Summary: The 60642 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1922+15.8%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60642, you may be able to get a good deal. 40.9% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in 60642 in December 2024, up by 15.8% month-over-month. Of the 22 sold homes, 41% were sold under asking, 32% were sold at asking, and 27% were sold over asking.

Days on Market for 60642, IL

How long does it take to sell a home in 60642, IL?

Average Sale Time

Dec 2023Dec 2024CHANGE
36 Days27 Days-26.6%

Summary: Homes in 60642 had an average of 27 days on market in Dec 2024, down by 26.6% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60642 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 22 homes were sold in 60642; 68% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% 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 60642, IL

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