Is 62702, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 62702 has remained a Seller's Market.
Key Takeaway
62702 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 62702, IL
How much do homes in 62702, IL cost?
Median Sold Price
$116,875
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 62702 have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in 62702 was $116,875 in April 2024, up 19.9% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $42.5K | $34K | -20.0% |
| 2 Bedrooms | $73K | $85K | +16.4% |
| 3 Bedrooms | $115K | $125K | +8.7% |
| 4 Bedrooms | $162K | $146K | -9.9% |
| 5+ Bedrooms | $238K | $376.5K | +58.2% |
Summary: 62702 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 16.4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 9.9%, and 5+ bedroom homes increased by 58.2%.
Median Sold Price Compared To Nearby Zip Codes
| 62702 | $97.5K | $116.8K | +19.9% |
| 62704 | $154.7K | $161.5K | +4.4% |
Housing Supply in 62702, IL
How many homes are available in 62702, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 83 | 101 | +21.7% |
Summary: The 62702 real estate market had 101 homes for sale in April 2024, a 21.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 33 | 30 | -9.1% |
| 3 Bedrooms | 36 | 47 | +30.6% |
| 4 Bedrooms | 7 | 17 | +142.9% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 62702 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 30.6%, 4 bedroom homes increased by 142.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 62702, you may be able to get a good deal. 53.6% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in 62702 in April 2024, up by 21.7% month-over-month. Of the 28 sold homes, 54% were sold under asking, 7% were sold at asking, and 39% were sold over asking.
Days on Market for 62702, IL
How long does it take to sell a home in 62702, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 13 Days | 13 Days | -0.2% |
Summary: Homes in 62702 had an average of 13 days on market in Apr 2024, down by 0.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 62702 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 28 homes were sold in 62702; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.