Is Cook County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cook County is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Cook County, IL

How much do homes in Cook County, IL cost?

Median Sold Price

$334,605

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,742(+8.0%)

Key Takeaway

Homes in Cook County have sold for 8% more than they did a year ago.

Summary: The median home sold price in Cook County was $334,605 in October 2024, up 8% from last year, and the median price per square foot was $220.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $192.2K$211.2K
+9.9%
2 $259.1K$282.1K
+8.9%
3 $320.3K$349.2K
+9.0%
4 $410.3K$441.1K
+7.5%
5+ $446.5K$500.3K
+12.0%

Summary: Cook County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 12%.

Median Sold Price Compared To Nearby Counties

Kane County
+9.8%
DuPage County
+8.6%
Cook County
+8.0%
Will County
+7.9%
Lake County
+6.2%

Housing Supply in Cook County, IL

How many homes are available in Cook County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
16,94019,386+14.4%

Summary: The Cook County real estate market had 19,386 homes for sale in October 2024, a 14.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1,3661,521
+11.3%
2 4,1434,713
+13.8%
3 5,9386,836
+15.1%
4 3,0343,472
+14.4%
5+ 2,4592,844
+15.7%

Summary: The Cook County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 15.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3,9163,815-2.6%

Asking Price vs. Sold Price

1,869 Homes Were Sold
Under Asking

678 Homes Were Sold
At Asking

1,267 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cook County, you may be able to get a good deal. 49% of homes here sold below asking price last month.

Summary: A total of 3,815 homes were sold or pending in Cook County in October 2024, down by 2.6% month-over-month. Of the 3,814 sold homes, 49% were sold under asking, 18% were sold at asking, and 33% were sold over asking.

Days on Market for Cook County, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days28 Days-0.1%

Summary: Homes in Cook County had an average of 28 days on market in Oct 2024, down by 0.1% compared to last year.

Breakdown of Home Sale Times

2,756 Homes Were Sold
Under 30 Days

815 Homes Were Sold
In 30 - 90 Days

244 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 3815 homes were sold in Cook County; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% 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 20 Days Ago

Newest Listings in Cook County, IL

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What housing markets are near Cook County, IL?