Is 62002, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62002 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 62002 was a Seller's Market.

Key Takeaway

62002 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 62002, IL

How much do homes in 62002, IL cost?

Median Sold Price

$125,000

$93/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,640(+9.3%)

Key Takeaway

Homes in 62002 have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in 62002 was $125,000 in October 2024, up 9.3% from last year, and the median price per square foot was $93.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $36.2K$82K
+126.5%
2 $78K$100.7K
+29.2%
3 $135K$143K
+5.9%
4 $181.2K$175K
-3.4%
5+ $218.5K$252K
+15.3%

Summary: 62002 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 126.5%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 15.3%.

Median Sold Price Compared To Nearby Zip Codes

62018
+20.6%
62024
+20.3%
62002
+9.3%
62010
-0.2%
62012
-4.2%

Housing Supply in 62002, IL

How many homes are available in 62002, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
107113+5.6%

Summary: The 62002 real estate market had 113 homes for sale in October 2024, a 5.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 53
-40.0%
2 3842
+10.5%
3 4647
+2.2%
4 1617
+6.3%
5+ 24
+100.0%

Summary: The 62002 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4015-62.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 62002, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in 62002 in October 2024, down by 62.5% month-over-month. Of the 15 sold homes, 53% were sold under asking, 7% were sold at asking, and 40% were sold over asking.

Days on Market for 62002, IL

How long does it take to sell a home in 62002, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
49 Days40 Days-17.6%

Summary: Homes in 62002 had an average of 40 days on market in Oct 2024, down by 17.6% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 62002 has remained consistent over time.

Summary: During October 2024, 15 homes were sold in 62002; 33% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 7% 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 17 Days Ago

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 11/01/2022 - 11/01/2024

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2024 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 11:53:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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