Is Chicago Ridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chicago Ridge has remained a Seller's Market.
Housing Prices in Chicago Ridge, IL
How much do homes in Chicago Ridge, IL cost?
Median Sold Price
$190,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chicago Ridge was $190,000 in May 2024, up 11.8% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95.9K | $100.5K | +4.8% |
2 Bedrooms | $139.9K | $159.9K | +14.3% |
3 Bedrooms | $270K | $265K | -1.9% |
4 Bedrooms | $270.1K | $264.5K | -2.1% |
5+ Bedrooms | $449.9K | $340K | -24.4% |
Summary: Chicago Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 24.4%.
Median Sold Price Compared To Nearby Cities
Worth | $200K | $252.5K | +26.3% |
Chicago Ridge | $170K | $190K | +11.8% |
Bridgeview | $250K | $274K | +9.6% |
Worth Township | $230.5K | $249.8K | +8.4% |
Oak Lawn | $244.2K | $255.1K | +4.5% |
Housing Supply in Chicago Ridge, IL
How many homes are available in Chicago Ridge, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 45 | +40.6% |
Summary: The Chicago Ridge real estate market had 45 homes for sale in May 2024, a 40.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 14 | 19 | +35.7% |
3 Bedrooms | 8 | 13 | +62.5% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Chicago Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 62.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 10 | +11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Chicago Ridge in May 2024, up by 11.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 30% were sold at asking, and 30% were sold over asking.
Days on Market for Chicago Ridge, IL
How long does it take to sell a home in Chicago Ridge, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 21 Days | -23.8% |
Summary: Homes in Chicago Ridge had an average of 21 days on market in May 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Chicago Ridge; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.