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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 60602 is a neutral's market

Buyer's
Market

Difference Since November 2022

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

Key Takeaway

60602 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 60602, IL

How much do homes in 60602, IL cost?

Median Sold Price

$680,000

$408/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$382,500(+128.6%)

Key Takeaway

Homes in 60602 have sold for 128.6% more than they did a year ago.

Summary: The median home sold price in 60602 was $680,000 in November 2023, up 128.6% from last year, and the median price per square foot was $408.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $261K$224.2K
-14.1%
2 $486K$500K
+2.9%
3 $690K$1.0M
+47.6%
4 --
N/A
5+ --
N/A

Summary: 60602 housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 14.1%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 47.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60602
+128.6%
60601
-1.1%
60603
-12.8%

Housing Supply in 60602, IL

How many homes are available in 60602, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
2426+8.3%

Summary: The 60602 real estate market had 26 homes for sale in November 2023, a 8.3% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 1111
0.0%
2 66
0.0%
3 57
+40.0%
4 22
0.0%
5+ 00
0.0%

Summary: The 60602 housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
54-20.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 60602 in November 2023, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% 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

Nov 2022Nov 2023CHANGE
112 Days60 Days-45.8%

Summary: Homes in 60602 had an average of 60 days on market in Nov 2023, down by 45.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 60602 are selling fast, if you're buying plan to act quickly.

Summary: During November 2023, 4 homes were sold in 60602; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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 9 Days Ago

Newest Listings in 60602, IL

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