Is 60602, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60602 is a buyer's market

Buyer's
Market

Difference Since August 2023

At the same time last year, 60602 was a Seller's Market.

Key Takeaway

60602 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 60602, IL

How much do homes in 60602, IL cost?

Median Sold Price

$370,000

$376/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

-$130,000(-26.0%)

Key Takeaway

Homes in 60602 have sold for 26% less than they did a year ago.

Summary: The median home sold price in 60602 was $370,000 in August 2024, down 26% from last year, and the median price per square foot was $376.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $224.2K$267.5K
+19.3%
2 $496K$475K
-4.2%
3 $1.0M$1.0M
+1.8%
4 -$3.5M
N/A
5+ --
N/A

Summary: 60602 housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60601
+3.0%
60603
-9.0%
60602
-26.0%

Housing Supply in 60602, IL

How many homes are available in 60602, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
2932+10.3%

Summary: The 60602 real estate market had 32 homes for sale in August 2024, a 10.3% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 1113
+18.2%
2 35
+66.7%
3 1312
-7.7%
4 22
0.0%
5+ 00
0.0%

Summary: The 60602 housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60602, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 60602 in August 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 60602, IL

How long does it take to sell a home in 60602, IL?

Average Sale Time

Aug 2023Aug 2024CHANGE
68 Days48 Days-30.1%

Summary: Homes in 60602 had an average of 48 days on market in Aug 2024, down by 30.1% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 60602 has remained consistent over time.

Summary: During August 2024, 2 homes were sold in 60602; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 20 Days Ago

Newest Listings in 60602, IL

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