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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Jefferson Park is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Jefferson Park, IL

How much do homes in Jefferson Park, IL cost?

Median Sold Price

$444,000

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$69,000(+18.4%)

Key Takeaway

Homes in Jefferson Park have sold for 18.4% more than they did a year ago.

Summary: The median home sold price in Jefferson Park was $444,000 in October 2024, up 18.4% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $140.5K$150K
+6.8%
2 $280K$267K
-4.6%
3 $383.7K$443.5K
+15.6%
4 $430.1K$482.5K
+12.2%
5+ $495.5K$572.5K
+15.5%

Summary: Jefferson Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes decreased by 4.6%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 15.5%.

Housing Supply in Jefferson Park, IL

How many homes are available in Jefferson Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
84101+20.2%

Summary: The Jefferson Park real estate market had 101 homes for sale in October 2024, a 20.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 1115
+36.4%
3 3239
+21.9%
4 2128
+33.3%
5+ 1616
0.0%

Summary: The Jefferson Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1326+100.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Jefferson Park, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Jefferson Park in October 2024, up by 100.0% month-over-month. Of the 26 sold homes, 46% were sold under asking, 31% were sold at asking, and 23% were sold over asking.

Days on Market for Jefferson Park, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days11 Days-39.3%

Summary: Homes in Jefferson Park had an average of 11 days on market in Oct 2024, down by 39.3% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 26 homes were sold in Jefferson Park; 96% of homes were sold within 30 days, 4% 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 16 Days Ago

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