Is 60162, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60162 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60162 has remained a Seller's Market.

Key Takeaway

60162 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60162, IL

How much do homes in 60162, IL cost?

Median Sold Price

$257,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$7,000(+2.8%)

Key Takeaway

Homes in 60162 have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in 60162 was $257,000 in April 2024, up 2.8% from last year, and the median price per square foot was $196.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $100K$133.5K
+33.5%
2 $163.5K$240K
+46.8%
3 $260K$274K
+5.4%
4 $315K$300K
-4.8%
5+ $305K$387.6K
+27.1%

Summary: 60162 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.5%, 2 bedroom homes increased by 46.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 27.1%.

Median Sold Price Compared To Nearby Zip Codes

60154
+5.9%
60104
+3.4%
60162
+2.8%
60126
+1.7%
60163
-3.9%

Housing Supply in 60162, IL

How many homes are available in 60162, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2220-9.1%

Summary: The 60162 real estate market had 20 homes for sale in April 2024, a 9.1% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1111
0.0%
4 87
-12.5%
5+ 00
0.0%

Summary: The 60162 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60162, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in 60162 in April 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.

Days on Market for 60162, IL

How long does it take to sell a home in 60162, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
28 Days39 Days+36.2%

Summary: Homes in 60162 had an average of 39 days on market in Apr 2024, up by 36.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60162 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in 60162; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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 1 Day Ago

Newest Listings in 60162, IL

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