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 December 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

$387,666

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$11,093(+2.9%)

Key Takeaway

Homes in 60502 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 60502 was $387,666 in December 2024, up 2.9% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $295K$307.5K
+4.2%
3 $367.9K$380K
+3.3%
4 $575.5K$645.7K
+12.2%
5+ $672.9K$831K
+23.5%

Summary: 60502 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 23.5%.

Median Sold Price Compared To Nearby Zip Codes

60505
+15.4%
60504
+14.3%
60555
+8.7%
60502
+2.9%

Housing Supply in 60502, IL

How many homes are available in 60502, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
6155-9.8%

Summary: The 60502 real estate market had 55 homes for sale in December 2024, a 9.8% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 1920
+5.3%
3 2422
-8.3%
4 1412
-14.3%
5+ 41
-75.0%

Summary: The 60502 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 75%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
19190.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 60502, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in 60502 in December 2024, the same as the previous month. Of the 19 sold homes, 42% were sold under asking, 21% were sold at asking, and 37% 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

Dec 2023Dec 2024CHANGE
12 Days18 Days+43.6%

Summary: Homes in 60502 had an average of 18 days on market in Dec 2024, up by 43.6% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 December 2024, 19 homes were sold in 60502; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% 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 2 Days Ago

Newest Listings in 60502, IL

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