Is Edgewater, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Edgewater is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Edgewater, IL

How much do homes in Edgewater, IL cost?

Median Sold Price

$290,000

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$35,426(+13.9%)

Key Takeaway

Homes in Edgewater have sold for 13.9% more than they did a year ago.

Summary: The median home sold price in Edgewater was $290,000 in November 2024, up 13.9% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $158K$173K
+9.5%
2 $285K$320K
+12.3%
3 $445K$537.5K
+20.8%
4 $705K$986.2K
+39.9%
5+ $760K$865K
+13.8%

Summary: Edgewater housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.5%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 39.9%, and 5+ bedroom homes increased by 13.8%.

Housing Supply in Edgewater, IL

How many homes are available in Edgewater, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
158162+2.5%

Summary: The Edgewater real estate market had 162 homes for sale in November 2024, a 2.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4951
+4.1%
2 6764
-4.5%
3 3030
0.0%
4 811
+37.5%
5+ 46
+50.0%

Summary: The Edgewater housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.1%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4441-6.8%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Edgewater, you may be able to get a good deal. 53.7% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in Edgewater in November 2024, down by 6.8% month-over-month. Of the 41 sold homes, 54% were sold under asking, 20% were sold at asking, and 27% were sold over asking.

Days on Market for Edgewater, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
15 Days25 Days+59.8%

Summary: Homes in Edgewater had an average of 25 days on market in Nov 2024, up by 59.8% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 41 homes were sold in Edgewater; 71% of homes were sold within 30 days, 24% 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 22 Days Ago

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