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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60642 is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 60642 was a Seller's Market.

Key Takeaway

60642 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60642, IL

How much do homes in 60642, IL cost?

Median Sold Price

$597,666

$337/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$43,666(+7.9%)

Key Takeaway

Homes in 60642 have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in 60642 was $597,666 in November 2024, up 7.9% from last year, and the median price per square foot was $337.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $325K$330K
+1.5%
2 $471.2K$475K
+0.8%
3 $675K$695K
+3.0%
4 $767K$874K
+14.0%
5+ $1.1M$840K
-24.7%

Summary: 60642 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 14%, and 5+ bedroom homes decreased by 24.7%.

Median Sold Price Compared To Nearby Zip Codes

60610
+14.4%
60642
+7.9%
60622
+7.3%
60614
+5.8%
60654
+2.1%

Housing Supply in 60642, IL

How many homes are available in 60642, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
106107+0.9%

Summary: The 60642 real estate market had 107 homes for sale in November 2024, a 0.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 75
-28.6%
2 2832
+14.3%
3 4547
+4.4%
4 1611
-31.3%
5+ 1012
+20.0%

Summary: The 60642 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2217-22.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 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. 58.8% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 60642 in November 2024, down by 22.7% month-over-month. Of the 17 sold homes, 59% were sold under asking, 18% were sold at asking, and 24% 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

Nov 2023Nov 2024CHANGE
30 Days26 Days-10.6%

Summary: Homes in 60642 had an average of 26 days on market in Nov 2024, down by 10.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 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 November 2024, 17 homes were sold in 60642; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% 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 60642, IL

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