Is East Village, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Village is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

East Village is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in East Village, IL

How much do homes in East Village, IL cost?

Median Sold Price

$635,000

$361/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$5,000(+0.8%)

Key Takeaway

Homes in East Village have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in East Village was $635,000 in November 2024, up 0.8% from last year, and the median price per square foot was $361.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $266.5K$234.9K
-11.8%
2 $559.5K$555K
-0.8%
3 $648.5K$721.7K
+11.3%
4 $825K$900.6K
+9.2%
5+ $952.5K$1.0M
+10.2%

Summary: East Village housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 10.2%.

Median Sold Price Compared To Nearby Neighborhoods

Noble Square
+10.6%
Wicker Park
+6.8%
West Town
+5.1%
West Side
+4.2%
East Village
+0.8%

Housing Supply in East Village, IL

How many homes are available in East Village, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4452+18.2%

Summary: The East Village real estate market had 52 homes for sale in November 2024, a 18.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 1823
+27.8%
3 1924
+26.3%
4 22
0.0%
5+ 52
-60.0%

Summary: The East Village housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 26.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Village, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in East Village in November 2024, down by 11.1% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for East Village, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
18 Days10 Days-41.0%

Summary: Homes in East Village had an average of 10 days on market in Nov 2024, down by 41% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 8 homes were sold in East Village; 88% 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 18 Days Ago

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