Is 60202, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60202 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60202 has remained a Seller's Market.

Key Takeaway

60202 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60202, IL

How much do homes in 60202, IL cost?

Median Sold Price

$306,000

$241/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$20,333(-6.2%)

Key Takeaway

Homes in 60202 have sold for 6.2% less than they did a year ago.

Summary: The median home sold price in 60202 was $306,000 in March 2024, down 6.2% from last year, and the median price per square foot was $241.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $165K$171.5K
+3.9%
2 $244K$255K
+4.5%
3 $400K$395.5K
-1.1%
4 $725K$670K
-7.6%
5+ $724K$830K
+14.6%

Summary: 60202 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.9%, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes increased by 14.6%.

Median Sold Price Compared To Nearby Zip Codes

60626
+8.9%
60645
+5.0%
60201
+1.5%
60202
-6.2%

Housing Supply in 60202, IL

How many homes are available in 60202, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
101111+9.9%

Summary: The 60202 real estate market had 111 homes for sale in March 2024, a 9.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 811
+37.5%
2 3739
+5.4%
3 2627
+3.8%
4 1415
+7.1%
5+ 1619
+18.8%

Summary: The 60202 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 18.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2327+17.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60202, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in 60202 in March 2024, up by 17.4% month-over-month. Of the 27 sold homes, 41% were sold under asking, 15% were sold at asking, and 44% were sold over asking.

Days on Market for 60202, IL

How long does it take to sell a home in 60202, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
54 Days33 Days-38.4%

Summary: Homes in 60202 had an average of 33 days on market in Mar 2024, down by 38.4% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60202 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 27 homes were sold in 60202; 67% of homes were sold within 30 days, 26% 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 60202, IL

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