Is 60002, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60002 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 60002 has remained a Seller's Market.

Key Takeaway

60002 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60002, IL

How much do homes in 60002, IL cost?

Median Sold Price

$323,333

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$18,333(+6.0%)

Key Takeaway

Homes in 60002 have sold for 6% more than they did a year ago.

Summary: The median home sold price in 60002 was $323,333 in April 2024, up 6% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $136.5K$130K
-4.7%
2 $205K$216.4K
+5.6%
3 $285K$307.2K
+7.8%
4 $346.5K$375K
+8.2%
5+ $383K$460K
+20.1%

Summary: 60002 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 20.1%.

Median Sold Price Compared To Nearby Zip Codes

60081
+13.7%
60041
+10.7%
60046
+9.2%
60002
+6.0%
53179
-4.2%

Housing Supply in 60002, IL

How many homes are available in 60002, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
97107+10.3%

Summary: The 60002 real estate market had 107 homes for sale in April 2024, a 10.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 1917
-10.5%
3 3842
+10.5%
4 2636
+38.5%
5+ 1311
-15.4%

Summary: The 60002 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 10.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes decreased by 15.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2336+56.5%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60002, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 36 homes were sold or pending in 60002 in April 2024, up by 56.5% month-over-month. Of the 36 sold homes, 39% were sold under asking, 11% were sold at asking, and 50% were sold over asking.

Days on Market for 60002, IL

How long does it take to sell a home in 60002, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
20 Days32 Days+57.6%

Summary: Homes in 60002 had an average of 32 days on market in Apr 2024, up by 57.6% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60002 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 36 homes were sold in 60002; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% 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

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