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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kenwood is a buyer's market

Buyer's
Market

Difference Since October 2023

Since last year, Kenwood has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Kenwood, IL

How much do homes in Kenwood, IL cost?

Median Sold Price

$310,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,000(+4.0%)

Key Takeaway

Homes in Kenwood have sold for 4% more than they did a year ago.

Summary: The median home sold price in Kenwood was $310,000 in October 2024, up 4% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $110K$130K
+18.2%
2 $198.8K$220K
+10.7%
3 $345K$349K
+1.2%
4 $497.2K$595K
+19.7%
5+ $710K$1.3M
+83.1%

Summary: Kenwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 83.1%.

Median Sold Price Compared To Nearby Neighborhoods

Hyde Park
+11.0%
South Side
+4.8%
Kenwood
+4.0%
North Kenwood
-20.7%

Housing Supply in Kenwood, IL

How many homes are available in Kenwood, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7282+13.9%

Summary: The Kenwood real estate market had 82 homes for sale in October 2024, a 13.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 88
0.0%
2 1618
+12.5%
3 2125
+19.0%
4 1116
+45.5%
5+ 1615
-6.3%

Summary: The Kenwood housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes decreased by 6.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
137-46.2%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 7 homes were sold or pending in Kenwood in October 2024, down by 46.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.

Days on Market for Kenwood, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days39 Days+37.9%

Summary: Homes in Kenwood had an average of 39 days on market in Oct 2024, up by 37.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Kenwood; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 20 Days Ago

Newest Listings in Kenwood, IL

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