Is Garfield Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garfield Park is a buyer's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Garfield Park was a Seller's Market.

Key Takeaway

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

Housing Prices in Garfield Park, IL

How much do homes in Garfield Park, IL cost?

Median Sold Price

$266,000

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$16,000(+6.4%)

Key Takeaway

Homes in Garfield Park have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Garfield Park was $266,000 in December 2024, up 6.4% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $25K$115.5K
+362.0%
2 $199K$149K
-25.1%
3 $209.7K$245K
+16.8%
4 $254.4K$151.2K
-40.6%
5+ $309.5K$332K
+7.3%

Summary: Garfield Park housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 362%, 2 bedroom homes decreased by 25.1%, 3 bedroom homes increased by 16.8%, 4 bedroom homes decreased by 40.6%, and 5+ bedroom homes increased by 7.3%.

Housing Supply in Garfield Park, IL

How many homes are available in Garfield Park, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
103105+1.9%

Summary: The Garfield Park real estate market had 105 homes for sale in December 2024, a 1.9% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 2728
+3.7%
4 1315
+15.4%
5+ 6158
-4.9%

Summary: The Garfield Park housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 4.9%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1514-6.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garfield Park, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Garfield Park in December 2024, down by 6.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 36% were sold at asking, and 21% were sold over asking.

Days on Market for Garfield Park, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
67 Days26 Days-60.1%

Summary: Homes in Garfield Park had an average of 26 days on market in Dec 2024, down by 60.1% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 14 homes were sold in Garfield Park; 50% of homes were sold within 30 days, 50% 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 6 Days Ago

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MLS Disclaimers and Copyright

Based on information from Midwest Real Estate Data for the period 01/01/2023 - 01/01/2025

IDX Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Copyright © 2025 Midwest Real Estate Data LLC (MRED). All rights reserved.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than the broker/agent who owns the website are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers.

All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

Some properties which appear for sale on this website may subsequently have sold and may no longer be available. Information Deemed Reliable but Not Guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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Copyright © 2025 Midwest Real Estate Data LLC (MRED). All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/7/2025, 11:16:03 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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