Is 60502, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60502 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 60502 has remained a Seller's Market.

Key Takeaway

60502 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 60502, IL

How much do homes in 60502, IL cost?

Median Sold Price

$375,468

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$2,018(+0.5%)

Key Takeaway

Homes in 60502 have sold for 0.5% more than they did a year ago.

Summary: The median home sold price in 60502 was $375,468 in March 2024, up 0.5% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $150K-
N/A
2 $275.5K$295K
+7.1%
3 $320K$373.6K
+16.8%
4 $526K$583.9K
+11.0%
5+ $622.5K$680K
+9.2%

Summary: 60502 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 16.8%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Zip Codes

60555
+12.1%
60505
+7.5%
60504
+6.8%
60502
0.5%

Housing Supply in 60502, IL

How many homes are available in 60502, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7175+5.6%

Summary: The 60502 real estate market had 75 homes for sale in March 2024, a 5.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1319
+46.2%
3 4940
-18.4%
4 815
+87.5%
5+ 11
0.0%

Summary: The 60502 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 46.2%, 3 bedroom homes decreased by 18.4%, 4 bedroom homes increased by 87.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2015-25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60502, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in 60502 in March 2024, down by 25.0% month-over-month. Of the 15 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% were sold over asking.

Days on Market for 60502, IL

How long does it take to sell a home in 60502, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
33 Days28 Days-16.0%

Summary: Homes in 60502 had an average of 28 days on market in Mar 2024, down by 16% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60502 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 15 homes were sold in 60502; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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 60502, IL

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