Is Cook County, 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, Cook County has remained a Seller's Market.
Housing Prices in Cook County, IL
How much do homes in Cook County, IL cost?
Median Sold Price
$324,712
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cook County was $324,712 in May 2024, up 6.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $189.4K | $201.7K | +6.5% |
2 Bedrooms | $249.9K | $274.4K | +9.8% |
3 Bedrooms | $318.8K | $334.9K | +5.1% |
4 Bedrooms | $403.2K | $430.1K | +6.7% |
5+ Bedrooms | $450K | $470.7K | +4.6% |
Summary: Cook County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Counties
Kane County | $310.4K | $349.2K | +12.5% |
Lake County | $329.6K | $356.6K | +8.2% |
Will County | $307.1K | $330K | +7.5% |
DuPage County | $359.9K | $385.3K | +7.0% |
Cook County | $304.9K | $324.7K | +6.5% |
Housing Supply in Cook County, IL
How many homes are available in Cook County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17,793 | 20,040 | +12.6% |
Summary: The Cook County real estate market had 20,040 homes for sale in May 2024, a 12.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1,530 | 1,666 | +8.9% |
2 Bedrooms | 4,482 | 4,938 | +10.2% |
3 Bedrooms | 6,161 | 6,847 | +11.1% |
4 Bedrooms | 3,088 | 3,654 | +18.3% |
5+ Bedrooms | 2,532 | 2,935 | +15.9% |
Summary: The Cook County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes increased by 15.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4,795 | 4,827 | +0.7% |
Asking Price vs. Sold Price
1,848 Homes Were Sold
Under Asking
798 Homes Were Sold
At Asking
2,181 Homes Were Sold
Over Asking
Summary: A total of 4,827 homes were sold or pending in Cook County in May 2024, up by 0.7% month-over-month. Of the 4,827 sold homes, 38% were sold under asking, 17% were sold at asking, and 45% were sold over asking.
Days on Market for Cook County, IL
How long does it take to sell a home in Cook County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 25 Days | -18.4% |
Summary: Homes in Cook County had an average of 25 days on market in May 2024, down by 18.4% compared to last year.
Breakdown of Home Sale Times
3,786 Homes Were Sold
Under 30 Days
740 Homes Were Sold
In 30 - 90 Days
301 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4827 homes were sold in Cook County; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.