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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hyde Park is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Hyde Park was a Neutral Market.

Key Takeaway

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

Housing Prices in Hyde Park, IL

How much do homes in Hyde Park, IL cost?

Median Sold Price

$259,500

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,500(+12.8%)

Key Takeaway

Homes in Hyde Park have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in Hyde Park was $259,500 in November 2024, up 12.8% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $138.5K$142.5K
+2.9%
2 $194.5K$200K
+2.8%
3 $364.9K$354.5K
-2.9%
4 $500K$604K
+20.8%
5+ $649K$680K
+4.8%

Summary: Hyde Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 2.8%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Neighborhoods

Hyde Park
+12.8%
Woodlawn
+10.5%
South Side
+5.5%
Kenwood
+3.2%

Housing Supply in Hyde Park, IL

How many homes are available in Hyde Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
98105+7.1%

Summary: The Hyde Park real estate market had 105 homes for sale in November 2024, a 7.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1517
+13.3%
2 2727
0.0%
3 3238
+18.8%
4 1715
-11.8%
5+ 78
+14.3%

Summary: The Hyde Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1513-13.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hyde Park, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Hyde Park in November 2024, down by 13.3% month-over-month. Of the 13 sold homes, 54% were sold under asking, 8% were sold at asking, and 38% were sold over asking.

Days on Market for Hyde Park, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
97 Days58 Days-39.6%

Summary: Homes in Hyde Park had an average of 58 days on market in Nov 2024, down by 39.6% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 13 homes were sold in Hyde Park; 62% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 31% 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 21 Days Ago

Newest Listings in Hyde Park, IL

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