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 buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

East Village is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in East Village, IL

How much do homes in East Village, IL cost?

Median Sold Price

$635,000

$360/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since October 2023.

Key Takeaway

The sold price of homes in East Village has remained the same since last year.

Summary: The median home sold price in East Village was $635,000 in October 2024, the same as last year, and the median price per square foot was $360.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $266.5K$234.9K
-11.8%
2 $551.5K$560K
+1.5%
3 $675K$715K
+5.9%
4 $842.5K$882.5K
+4.7%
5+ $975K$952.5K
-2.3%

Summary: East Village housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 2.3%.

Median Sold Price Compared To Nearby Neighborhoods

Noble Square
+15.1%
West Town
+6.8%
Wicker Park
+4.6%
West Side
+4.4%
East Village
0.0%

Housing Supply in East Village, IL

How many homes are available in East Village, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4053+32.5%

Summary: The East Village real estate market had 53 homes for sale in October 2024, a 32.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 1822
+22.2%
3 1321
+61.5%
4 22
0.0%
5+ 77
0.0%

Summary: The East Village housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 61.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
770.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were 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. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in East Village in October 2024, the same as the previous month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% 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

Oct 2023Oct 2024CHANGE
12 Days16 Days+36.9%

Summary: Homes in East Village had an average of 16 days on market in Oct 2024, up by 36.9% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were 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 October 2024, 7 homes were sold in East Village; 100% of homes were sold within 30 days, 0% 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 14 Days Ago

Newest Listings in East Village, IL

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