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 October 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

$400,000

$213/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$26,100(+7.0%)

Key Takeaway

Homes in 60502 have sold for 7% more than they did a year ago.

Summary: The median home sold price in 60502 was $400,000 in October 2024, up 7% from last year, and the median price per square foot was $213.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $292.5K$305.5K
+4.4%
3 $350.7K$396.6K
+13.1%
4 $584.9K$647.8K
+10.7%
5+ $672.9K$831K
+23.5%

Summary: 60502 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 23.5%.

Median Sold Price Compared To Nearby Zip Codes

60505
+17.8%
60504
+12.5%
60555
+8.6%
60502
+7.0%

Housing Supply in 60502, IL

How many homes are available in 60502, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7779+2.6%

Summary: The 60502 real estate market had 79 homes for sale in October 2024, a 2.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2428
+16.7%
3 3327
-18.2%
4 1416
+14.3%
5+ 57
+40.0%

Summary: The 60502 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 increased by 16.7%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2729+7.4%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

6 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. 55.2% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in 60502 in October 2024, up by 7.4% month-over-month. Of the 29 sold homes, 55% were sold under asking, 21% were sold at asking, and 24% 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

Oct 2023Oct 2024CHANGE
13 Days17 Days+33.1%

Summary: Homes in 60502 had an average of 17 days on market in Oct 2024, up by 33.1% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 October 2024, 29 homes were sold in 60502; 76% of homes were sold within 30 days, 24% 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 24 Days Ago

Newest Listings in 60502, IL

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