Is Western Springs, 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, Western Springs has remained a Seller's Market.
Housing Prices in Western Springs, IL
How much do homes in Western Springs, IL cost?
Median Sold Price
$725,500
$310/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Western Springs was $725,500 in May 2024, up 7.3% from last year, and the median price per square foot was $310.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $506K | $588K | +16.2% |
3 Bedrooms | $541.5K | $610.7K | +12.8% |
4 Bedrooms | $810K | $855K | +5.6% |
5+ Bedrooms | $1.2M | $1.2M | +1.2% |
Summary: Western Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Cities
Hinsdale | $999.7K | $1.1M | +17.2% |
Indian Head Park | $320K | $370K | +15.6% |
Western Springs | $676K | $725.5K | +7.3% |
Lyons Township | $370K | $391.9K | +5.9% |
La Grange | $545K | $532.5K | -2.3% |
Housing Supply in Western Springs, IL
How many homes are available in Western Springs, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
67 | 73 | +9.0% |
Summary: The Western Springs real estate market had 73 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 31 | 28 | -9.7% |
4 Bedrooms | 17 | 27 | +58.8% |
5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The Western Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.7%, 4 bedroom homes increased by 58.8%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 24 | +26.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Western Springs in May 2024, up by 26.3% month-over-month. Of the 24 sold homes, 46% were sold under asking, 8% were sold at asking, and 46% were sold over asking.
Days on Market for Western Springs, IL
How long does it take to sell a home in Western Springs, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 32 Days | +146.2% |
Summary: Homes in Western Springs had an average of 32 days on market in May 2024, up by 146.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Western Springs; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.