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 November 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

$270,666

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$18,666(+7.4%)

Key Takeaway

Homes in Chicago Lawn have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Chicago Lawn was $270,666 in November 2024, up 7.4% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $99.9K-
N/A
2 $240K$240K
0.0%
3 $240.5K$255K
+6.0%
4 $268K$259.9K
-3.0%
5+ $292.4K$335K
+14.5%

Summary: Chicago Lawn housing prices by bedroom type for November 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%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 14.5%.

Median Sold Price Compared To Nearby Neighborhoods

Englewood
+24.3%
Garage Park
+11.7%
Southwest Side
+8.8%
Ashburn
+8.6%
Chicago Lawn
+7.4%

Housing Supply in Chicago Lawn, IL

How many homes are available in Chicago Lawn, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
116113-2.6%

Summary: The Chicago Lawn real estate market had 113 homes for sale in November 2024, a 2.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1513
-13.3%
3 3327
-18.2%
4 3436
+5.9%
5+ 3437
+8.8%

Summary: The Chicago Lawn 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 decreased by 13.3%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 8.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2723-14.8%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Lawn, you could pay more than the asking price. 60.9% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in Chicago Lawn in November 2024, down by 14.8% month-over-month. Of the 23 sold homes, 13% were sold under asking, 26% were sold at asking, and 61% 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

Nov 2023Nov 2024CHANGE
17 Days14 Days-16.7%

Summary: Homes in Chicago Lawn had an average of 14 days on market in Nov 2024, down by 16.7% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 November 2024, 23 homes were sold in Chicago Lawn; 87% of homes were sold within 30 days, 13% 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 21 Days Ago

Newest Listings in Chicago Lawn, IL

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