Is Chicago Lawn, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chicago Lawn is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Chicago Lawn, IL

How much do homes in Chicago Lawn, IL cost?

Median Sold Price

$270,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,333(+7.7%)

Key Takeaway

Homes in Chicago Lawn have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Chicago Lawn was $270,000 in October 2024, up 7.7% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $99.9K-
N/A
2 $240K$240K
0.0%
3 $240K$255K
+6.3%
4 $260K$262K
+0.8%
5+ $295K$330K
+11.9%

Summary: Chicago Lawn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 11.9%.

Median Sold Price Compared To Nearby Neighborhoods

Englewood
+22.6%
Garage Park
+9.8%
Southwest Side
+8.9%
Ashburn
+7.8%
Chicago Lawn
+7.7%

Housing Supply in Chicago Lawn, IL

How many homes are available in Chicago Lawn, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
110130+18.2%

Summary: The Chicago Lawn real estate market had 130 homes for sale in October 2024, a 18.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1116
+45.5%
3 3336
+9.1%
4 3438
+11.8%
5+ 3240
+25.0%

Summary: The Chicago Lawn 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 45.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2422-8.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Lawn, you may be able to get a good deal. 40.9% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Chicago Lawn in October 2024, down by 8.3% month-over-month. Of the 22 sold homes, 41% were sold under asking, 32% were sold at asking, and 27% were sold over asking.

Days on Market for Chicago Lawn, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days24 Days+88.5%

Summary: Homes in Chicago Lawn had an average of 24 days on market in Oct 2024, up by 88.5% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 22 homes were sold in Chicago Lawn; 68% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% 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 13 Days Ago

Newest Listings in Chicago Lawn, IL

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