Is Berwyn, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berwyn is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Berwyn was a Seller's Market.

Key Takeaway

Berwyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Berwyn, IL

How much do homes in Berwyn, IL cost?

Median Sold Price

$325,850

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$25,850(+8.6%)

Key Takeaway

Homes in Berwyn have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Berwyn was $325,850 in November 2024, up 8.6% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $106K$121.5K
+14.6%
2 $216.5K$255K
+17.8%
3 $292.9K$315K
+7.5%
4 $350K$366.2K
+4.6%
5+ $375K$450K
+20.0%

Summary: Berwyn housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 20%.

Median Sold Price Compared To Nearby Cities

Berwyn
+8.6%
Berwyn Township
+8.6%
Stickney
+7.5%
Cicero
+5.8%
Cicero Township
+5.8%

Housing Supply in Berwyn, IL

How many homes are available in Berwyn, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
153166+8.5%

Summary: The Berwyn real estate market had 166 homes for sale in November 2024, a 8.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 3034
+13.3%
3 4953
+8.2%
4 4042
+5.0%
5+ 3033
+10.0%

Summary: The Berwyn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4123-43.9%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berwyn, you may be able to get a good deal. 52.2% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Berwyn in November 2024, down by 43.9% month-over-month. Of the 23 sold homes, 52% were sold under asking, 13% were sold at asking, and 35% were sold over asking.

Days on Market for Berwyn, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days30 Days+13.1%

Summary: Homes in Berwyn had an average of 30 days on market in Nov 2024, up by 13.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 23 homes were sold in Berwyn; 57% of homes were sold within 30 days, 43% 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 2 Days Ago

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