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 September 2023

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

$350,000

$369/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$147,500(-29.6%)

Key Takeaway

Homes in 60602 have sold for 29.6% less than they did a year ago.

Summary: The median home sold price in 60602 was $350,000 in September 2024, down 29.6% from last year, and the median price per square foot was $369.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $232.5K$242.5K
+4.3%
2 $490K$435K
-11.2%
3 $1.0M$1.0M
+3.8%
4 -$3.5M
N/A
5+ --
N/A

Summary: 60602 housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes increased by 3.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

60601
+9.0%
60603
-1.0%
60602
-29.6%

Housing Supply in 60602, IL

How many homes are available in 60602, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
2634+30.8%

Summary: The 60602 real estate market had 34 homes for sale in September 2024, a 30.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1014
+40.0%
2 37
+133.3%
3 1212
0.0%
4 11
0.0%
5+ 00
0.0%

Summary: The 60602 housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 133.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were 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. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 60602 in September 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% 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

Sep 2023Sep 2024CHANGE
99 Days48 Days-51.0%

Summary: Homes in 60602 had an average of 48 days on market in Sep 2024, down by 51% compared to last year.

Breakdown of Home Sale Times

2 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 60602 are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 5 homes were sold in 60602; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 4 Days Ago

Newest Listings in 60602, IL

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