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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berwyn is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Berwyn, IL

How much do homes in Berwyn, IL cost?

Median Sold Price

$325,000

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$17,500(+5.7%)

Key Takeaway

Homes in Berwyn have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Berwyn was $325,000 in December 2024, up 5.7% from last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $106K$118K
+11.3%
2 $218K$265K
+21.6%
3 $295K$317K
+7.5%
4 $355K$365K
+2.8%
5+ $383K$446.5K
+16.6%

Summary: Berwyn housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 16.6%.

Median Sold Price Compared To Nearby Cities

Stickney
+6.9%
Cicero
+5.8%
Cicero Township
+5.8%
Berwyn
+5.7%
Berwyn Township
+5.7%

Housing Supply in Berwyn, IL

How many homes are available in Berwyn, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
141152+7.8%

Summary: The Berwyn real estate market had 152 homes for sale in December 2024, a 7.8% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 44
0.0%
2 2630
+15.4%
3 4445
+2.3%
4 3739
+5.4%
5+ 3034
+13.3%

Summary: The Berwyn housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 13.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
2538+52.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berwyn, you could pay more than the asking price. 47.4% of homes here sold above asking price last month.

Summary: A total of 38 homes were sold or pending in Berwyn in December 2024, up by 52.0% month-over-month. Of the 38 sold homes, 42% were sold under asking, 11% were sold at asking, and 47% 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

Dec 2023Dec 2024CHANGE
28 Days42 Days+47.8%

Summary: Homes in Berwyn had an average of 42 days on market in Dec 2024, up by 47.8% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 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 December 2024, 38 homes were sold in Berwyn; 66% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% 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 4 Days Ago

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