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 November 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

$405,000

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$48,750(+13.7%)

Key Takeaway

Homes in Albany Park have sold for 13.7% more than they did a year ago.

Summary: The median home sold price in Albany Park was $405,000 in November 2024, up 13.7% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $143.5K$149K
+3.8%
2 $226.2K$250K
+10.5%
3 $451K$430.5K
-4.5%
4 $529K$535K
+1.1%
5+ $572.5K$592.5K
+3.5%

Summary: Albany Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 10.5%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 3.5%.

Housing Supply in Albany Park, IL

How many homes are available in Albany Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7573-2.7%

Summary: The Albany Park real estate market had 73 homes for sale in November 2024, a 2.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 45
+25.0%
2 2325
+8.7%
3 2317
-26.1%
4 910
+11.1%
5+ 1616
0.0%

Summary: The Albany Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 8.7%, 3 bedroom homes decreased by 26.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2619-26.9%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

7 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. 36.8% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Albany Park in November 2024, down by 26.9% month-over-month. Of the 19 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% 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

Nov 2023Nov 2024CHANGE
13 Days15 Days+13.4%

Summary: Homes in Albany Park had an average of 15 days on market in Nov 2024, up by 13.4% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

4 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 November 2024, 19 homes were sold in Albany Park; 79% of homes were sold within 30 days, 21% 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

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