Real Estate Market Update for 60642 (Chicago, IL)

Video: Real Estate Community Tour for 60642 (Chicago, IL)

See Real estate community tour for 60642 (Chicago, IL)
Welcome to July's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was down 49% from one year earlier, and down 34% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 470-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 34%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 450-thousand dollars. The number of units sold increased 3% year-over-year, and decreased 35% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 60642 (Chicago, IL)
Area Information for 60642 (Chicago, IL)
  • Population: 19,468
  • Median Age: 31.04 yr
  • Median Commute Time: 22.79 mins
  • Educational Climate*: 4
  • Sales Tax: 8%
  • Population Density: 11,435/sq mi
  • Population Change Since 2000: -2.48%
  • Closest Airport: Chicago Midway International
  • Closest College: Kendall College
  • Closest Jr. College: The College Of Office Technology
  • Median Household Income: $59,825
  • Annual Residential Turnover: 25.31%
  • Median Years in Residence: 2.04 yr
  • Median Home Sales Price: $325,000
  • Closest Major Sports Team: Chicago Black Hawks
  • Change Avg. Household Income Since 2000: 52%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 60642 (Chicago, IL)
Median Age: 31.04 Married: 17% Number of Households: 9,669 Households with Children: 1,368
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 60642 (Chicago, IL)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      The Chicago Academy For The Arts 0.2 mi Private 9-12 0 5
      Chicago Academy For The Arts 0.2 mi Private 9-12 0 0
      Noble Street College Prep 0.3 mi Public 9-12 4 3
      Ogden Int High School 0.4 mi Public 6-12 3-5 0
      Early College High School 0.5 mi Private 9-12 0 3
      Prologue Early College High School 0.5 mi Public 9-12 0 0
      Richard Milburn High School 0.5 mi Public 9-12 0 0
      Noble Street Charter Golder 0.5 mi Public 9-12 0 0
      Holy Trinity High School 0.5 mi Catholic 9-12 0 4
      Noble Street Charter Rauner 0.5 mi Public 9-12 0 0
      St Stanislaus Kostka School 0.5 mi Catholic PRESCHOOL-8 0 4
      Near North Montessori School 0.5 mi Private PRESCHOOL-8 0 5
      Otis Elementary School 0.7 mi Public K-8 1 4
      British School Of Chicago 0.7 mi Private PRESCHOOL-12 0 0
      Rowe Elementary School 0.8 mi Public K-7 0 5
      Gce Lab School 0.8 mi Private K-11 0 0
      Lozano Elementary Bilingual & Intl Center 0.8 mi Public PRESCHOOL-8 2 2
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for 60642 (Chicago, IL)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.