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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Irving Park is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Irving Park, IL

How much do homes in Irving Park, IL cost?

Median Sold Price

$499,900

$261/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$51,900(+11.6%)

Key Takeaway

Homes in Irving Park have sold for 11.6% more than they did a year ago.

Summary: The median home sold price in Irving Park was $499,900 in October 2024, up 11.6% from last year, and the median price per square foot was $261.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $149.5K$158K
+5.7%
2 $242.5K$273K
+12.6%
3 $536.2K$568.2K
+6.0%
4 $585K$630K
+7.7%
5+ $575K$651K
+13.2%

Summary: Irving Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 13.2%.

Median Sold Price Compared To Nearby Neighborhoods

Irving Park
+11.6%
Boulevard
-3.8%
Old Irving Park
-20.3%

Housing Supply in Irving Park, IL

How many homes are available in Irving Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
116148+27.6%

Summary: The Irving Park real estate market had 148 homes for sale in October 2024, a 27.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 59
+80.0%
2 2739
+44.4%
3 3641
+13.9%
4 2629
+11.5%
5+ 2230
+36.4%

Summary: The Irving Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 36.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2431+29.2%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Irving Park, you may be able to get a good deal. 54.8% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Irving Park in October 2024, up by 29.2% month-over-month. Of the 31 sold homes, 55% were sold under asking, 16% were sold at asking, and 29% were sold over asking.

Days on Market for Irving Park, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days34 Days+141.8%

Summary: Homes in Irving Park had an average of 34 days on market in Oct 2024, up by 141.8% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 31 homes were sold in Irving Park; 71% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% 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 17 Days Ago

Newest Listings in Irving Park, IL

Nearby Markets to Irving Park, IL