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 November 2023

At the same time last year, Kenwood was a Seller'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

$306,000

$179/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$9,500(+3.2%)

Key Takeaway

Homes in Kenwood have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Kenwood was $306,000 in November 2024, up 3.2% from last year, and the median price per square foot was $179.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $107K$130.5K
+22.0%
2 $197.6K$225K
+13.9%
3 $334.5K$353.5K
+5.7%
4 $475K$547.4K
+15.3%
5+ $720K$1.3M
+80.6%

Summary: Kenwood housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 80.6%.

Median Sold Price Compared To Nearby Neighborhoods

Hyde Park
+12.8%
South Side
+5.5%
Oakland
+4.7%
Kenwood
+3.2%
North Kenwood
-15.8%

Housing Supply in Kenwood, IL

How many homes are available in Kenwood, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7887+11.5%

Summary: The Kenwood real estate market had 87 homes for sale in November 2024, a 11.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 912
+33.3%
2 1722
+29.4%
3 2219
-13.6%
4 1216
+33.3%
5+ 1818
0.0%

Summary: The Kenwood housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 29.4%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
712+71.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 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. 91.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Kenwood in November 2024, up by 71.4% month-over-month. Of the 12 sold homes, 92% were sold under asking, 8% were sold at asking, and 0% 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

Nov 2023Nov 2024CHANGE
30 Days94 Days+216.4%

Summary: Homes in Kenwood had an average of 94 days on market in Nov 2024, up by 216.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were 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 November 2024, 12 homes were sold in Kenwood; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 Kenwood, IL

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