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 October 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

$342,500

$347/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$247,500(-41.9%)

Key Takeaway

Homes in 60602 have sold for 41.9% less than they did a year ago.

Summary: The median home sold price in 60602 was $342,500 in October 2024, down 41.9% from last year, and the median price per square foot was $347.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $232.5K$242.5K
+4.3%
2 $500K$349.2K
-30.1%
3 $1.0M$1.0M
-1.8%
4 -$3.5M
N/A
5+ --
N/A

Summary: 60602 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes decreased by 30.1%, 3 bedroom homes decreased 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
+4.1%
60602
-41.9%

Housing Supply in 60602, IL

How many homes are available in 60602, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
30300.0%

Summary: The 60602 real estate market had 30 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1212
0.0%
2 77
0.0%
3 109
-10.0%
4 12
+100.0%
5+ 00
0.0%

Summary: The 60602 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
52-60.0%

Asking Price vs. Sold Price

1 Home Was 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. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 60602 in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Oct 2023Oct 2024CHANGE
61 Days11 Days-82.1%

Summary: Homes in 60602 had an average of 11 days on market in Oct 2024, down by 82.1% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 October 2024, 2 homes were sold in 60602; 100% of homes were sold within 30 days, 0% 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 1 Day Ago

Newest Listings in 60602, IL

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