Is 60062, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60062 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60062 has remained a Seller's Market.

Key Takeaway

60062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60062, IL

How much do homes in 60062, IL cost?

Median Sold Price

$569,600

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$53,457(+10.4%)

Key Takeaway

Homes in 60062 have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in 60062 was $569,600 in March 2024, up 10.4% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $141.9K$161.4K
+13.7%
2 $305K$340K
+11.5%
3 $475K$525K
+10.5%
4 $731.5K$737.5K
+0.8%
5+ $902.5K$1.0M
+17.5%

Summary: 60062 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 17.5%.

Median Sold Price Compared To Nearby Zip Codes

60062
+10.4%
60025
+4.8%
60026
+3.9%
60022
-3.1%

Housing Supply in 60062, IL

How many homes are available in 60062, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
118135+14.4%

Summary: The 60062 real estate market had 135 homes for sale in March 2024, a 14.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 44
0.0%
2 3440
+17.6%
3 2632
+23.1%
4 3640
+11.1%
5+ 1819
+5.6%

Summary: The 60062 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 5.6%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3130-3.2%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60062, you could pay more than the asking price. 56.7% of homes here sold above asking price last month.

Summary: A total of 30 homes were sold or pending in 60062 in March 2024, down by 3.2% month-over-month. Of the 30 sold homes, 37% were sold under asking, 7% were sold at asking, and 57% were sold over asking.

Days on Market for 60062, IL

How long does it take to sell a home in 60062, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
19 Days22 Days+12.5%

Summary: Homes in 60062 had an average of 22 days on market in Mar 2024, up by 12.5% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60062 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 30 homes were sold in 60062; 87% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% 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 26 Days Ago

Newest Listings in 60062, IL

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