Is West Chicago, 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, West Chicago has remained a Seller's Market.
Housing Prices in West Chicago, IL
How much do homes in West Chicago, IL cost?
Median Sold Price
$360,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in West Chicago was $360,000 in May 2024, up 13.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $125.5K | +32.1% |
2 Bedrooms | $227.5K | $260K | +14.3% |
3 Bedrooms | $285K | $345K | +21.1% |
4 Bedrooms | $414.4K | $515K | +24.3% |
5+ Bedrooms | $489.9K | $507.5K | +3.6% |
Summary: West Chicago housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.1%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
West Chicago | $317.5K | $360K | +13.4% |
Wayne | $650K | $730K | +12.3% |
Wayne Township | $342.6K | $379.6K | +10.8% |
Geneva Township | $414.4K | $455K | +9.8% |
Winfield Township | $315.1K | $343.9K | +9.1% |
Housing Supply in West Chicago, IL
How many homes are available in West Chicago, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 68 | +25.9% |
Summary: The West Chicago real estate market had 68 homes for sale in May 2024, a 25.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 9 | 7 | -22.2% |
3 Bedrooms | 16 | 23 | +43.8% |
4 Bedrooms | 20 | 26 | +30.0% |
5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The West Chicago housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 43.8%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 24 | +26.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in West Chicago in May 2024, up by 26.3% month-over-month. Of the 24 sold homes, 21% were sold under asking, 17% were sold at asking, and 63% were sold over asking.
Days on Market for West Chicago, IL
How long does it take to sell a home in West Chicago, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 11 Days | -44.9% |
Summary: Homes in West Chicago had an average of 11 days on market in May 2024, down by 44.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in West Chicago; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.