Is Albany Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Albany Park is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Albany Park has remained a Seller's Market.

Key Takeaway

Albany Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Albany Park, IL

How much do homes in Albany Park, IL cost?

Median Sold Price

$398,666

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,333(+8.8%)

Key Takeaway

Homes in Albany Park have sold for 8.8% more than they did a year ago.

Summary: The median home sold price in Albany Park was $398,666 in October 2024, up 8.8% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $143.5K$149K
+3.8%
2 $225K$256.2K
+13.9%
3 $467.5K$436K
-6.7%
4 $522K$547.5K
+4.9%
5+ $555K$585K
+5.4%

Summary: Albany Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 13.9%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 5.4%.

Housing Supply in Albany Park, IL

How many homes are available in Albany Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8091+13.8%

Summary: The Albany Park real estate market had 91 homes for sale in October 2024, a 13.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 2628
+7.7%
3 2629
+11.5%
4 510
+100.0%
5+ 1920
+5.3%

Summary: The Albany Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 5.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2426+8.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albany Park, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Albany Park in October 2024, up by 8.3% month-over-month. Of the 26 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.

Days on Market for Albany Park, IL

How long does it take to sell a home in Albany Park, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days19 Days+32.9%

Summary: Homes in Albany Park had an average of 19 days on market in Oct 2024, up by 32.9% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 26 homes were sold in Albany Park; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in Albany Park, IL

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