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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 62002 is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

62002 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 62002, IL

How much do homes in 62002, IL cost?

Median Sold Price

$125,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,026(+13.7%)

Key Takeaway

Homes in 62002 have sold for 13.7% more than they did a year ago.

Summary: The median home sold price in 62002 was $125,000 in November 2024, up 13.7% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $39.9K$86.4K
+116.7%
2 $77.9K$100.9K
+29.4%
3 $135K$145K
+7.4%
4 $180.5K$180K
-0.3%
5+ $182.5K$252K
+38.1%

Summary: 62002 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 116.7%, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 38.1%.

Median Sold Price Compared To Nearby Zip Codes

62018
+19.0%
62024
+17.1%
62002
+13.7%
62010
+6.9%
62012
-0.8%

Housing Supply in 62002, IL

How many homes are available in 62002, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
109118+8.3%

Summary: The 62002 real estate market had 118 homes for sale in November 2024, a 8.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 4148
+17.1%
3 4643
-6.5%
4 1519
+26.7%
5+ 45
+25.0%

Summary: The 62002 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.1%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
17170.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were 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. 47.1% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 62002 in November 2024, the same as the previous month. Of the 17 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% 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

Nov 2023Nov 2024CHANGE
58 Days50 Days-15.1%

Summary: Homes in 62002 had an average of 50 days on market in Nov 2024, down by 15.1% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 62002 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 17 homes were sold in 62002; 41% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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

Real Estate Agent illustration

Local real estate agents are ready to help you find a home here.

Connect With An Agent
Real Estate Agent illustration

Sell your home with an expert or get the job done on your own.

Sell My Home
Real Estate Agent illustration

Get a customizable mortgage solution based on today's rates.

Get Approved

Newest Listings in 62002, IL

Nearby Markets to 62002, IL

MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 12/01/2022 - 12/01/2024

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: 12/18/2024, 11:23:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Popular Cities with Homes for Sale in Illinois