Is 60462, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60462 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60462 has remained a Seller's Market.

Key Takeaway

60462 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60462, IL

How much do homes in 60462, IL cost?

Median Sold Price

$334,750

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$41,084(+14.0%)

Key Takeaway

Homes in 60462 have sold for 14% more than they did a year ago.

Summary: The median home sold price in 60462 was $334,750 in March 2024, up 14% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $138K$148K
+7.2%
2 $211.7K$223.5K
+5.5%
3 $337.5K$350K
+3.7%
4 $403.7K$450K
+11.5%
5+ $484.1K$630K
+30.1%

Summary: 60462 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 30.1%.

Median Sold Price Compared To Nearby Zip Codes

60462
+14.0%
60463
+8.7%
60487
+4.9%
60467
-0.3%
60464
-18.2%

Housing Supply in 60462, IL

How many homes are available in 60462, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
128144+12.5%

Summary: The 60462 real estate market had 144 homes for sale in March 2024, a 12.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 24
+100.0%
2 4251
+21.4%
3 5454
0.0%
4 2529
+16.0%
5+ 56
+20.0%

Summary: The 60462 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 21.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3447+38.2%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60462, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in 60462 in March 2024, up by 38.2% month-over-month. Of the 47 sold homes, 51% were sold under asking, 26% were sold at asking, and 23% were sold over asking.

Days on Market for 60462, IL

How long does it take to sell a home in 60462, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
29 Days26 Days-11.1%

Summary: Homes in 60462 had an average of 26 days on market in Mar 2024, down by 11.1% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60462 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 47 homes were sold in 60462; 72% of homes were sold within 30 days, 19% 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 15 Days Ago

Newest Listings in 60462, IL

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