Is 60402, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60402 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 60402 has remained a Seller's Market.

Key Takeaway

60402 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60402, IL

How much do homes in 60402, IL cost?

Median Sold Price

$310,093

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,927(+6.9%)

Key Takeaway

Homes in 60402 have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in 60402 was $310,093 in February 2024, up 6.9% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $89.2K$110K
+23.2%
2 $229K$225K
-1.7%
3 $290K$296K
+2.1%
4 $330K$360K
+9.1%
5+ $380K$412K
+8.4%

Summary: 60402 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.2%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 8.4%.

Median Sold Price Compared To Nearby Zip Codes

60546
+9.2%
60402
+6.9%
60304
+2.1%
60804
+1.0%
60534
-4.0%

Housing Supply in 60402, IL

How many homes are available in 60402, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
127133+4.7%

Summary: The 60402 real estate market had 133 homes for sale in February 2024, a 4.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 56
+20.0%
2 1717
0.0%
3 3846
+21.1%
4 4340
-7.0%
5+ 2424
0.0%

Summary: The 60402 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes increased by 21.1%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3431-8.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60402, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in 60402 in February 2024, down by 8.8% month-over-month. Of the 31 sold homes, 48% were sold under asking, 10% were sold at asking, and 42% were sold over asking.

Days on Market for 60402, IL

How long does it take to sell a home in 60402, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
55 Days38 Days-30.1%

Summary: Homes in 60402 had an average of 38 days on market in Feb 2024, down by 30.1% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60402 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 31 homes were sold in 60402; 55% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 10% 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 27 Days Ago

Newest Listings in 60402, IL

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