Is Little Italy / University Village, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Little Italy / University Village is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Little Italy / University Village was a Seller's Market.

Key Takeaway

Little Italy / University Village is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Little Italy / University Village, IL

How much do homes in Little Italy / University Village, IL cost?

Median Sold Price

$361,500

$279/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,500(+0.4%)

Key Takeaway

The sold price of homes in Little Italy / University Village has remained the same since last year.

Summary: The median home sold price in Little Italy / University Village was $361,500 in October 2024, up 0.4% from last year, and the median price per square foot was $279.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $232.5K$221.5K
-4.7%
2 $311.2K$325K
+4.4%
3 $493.5K$542K
+9.8%
4 $529.7K$695K
+31.2%
5+ $642K$743K
+15.7%

Summary: Little Italy / University Village housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 31.2%, and 5+ bedroom homes increased by 15.7%.

Median Sold Price Compared To Nearby Neighborhoods

Lower West Side / Pilsen
+11.1%
United Center
+10.5%
West Loop
+3.6%
Little Italy / University Village
0.4%

Housing Supply in Little Italy / University Village, IL

How many homes are available in Little Italy / University Village, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8293+13.4%

Summary: The Little Italy / University Village real estate market had 93 homes for sale in October 2024, a 13.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 96
-33.3%
2 3743
+16.2%
3 2224
+9.1%
4 25
+150.0%
5+ 1215
+25.0%

Summary: The Little Italy / University Village housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 150%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2214-36.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Little Italy / University Village, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Little Italy / University Village in October 2024, down by 36.4% month-over-month. Of the 14 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.

Days on Market for Little Italy / University Village, IL

How long does it take to sell a home in Little Italy / University Village, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
67 Days34 Days-48.4%

Summary: Homes in Little Italy / University Village had an average of 34 days on market in Oct 2024, down by 48.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Little Italy / University Village are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in Little Italy / University Village; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% 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 14 Days Ago

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