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 seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Little Italy / University Village has remained a Seller's Market.

Key Takeaway

Little Italy / University Village is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Little Italy / University Village, IL

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

Median Sold Price

$358,592

$279/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$842(+0.2%)

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 $358,592 in November 2024, up 0.2% from last year, and the median price per square foot was $279.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $231K$230K
-0.4%
2 $309.5K$322K
+4.0%
3 $540K$550K
+1.9%
4 $522K$695K
+33.1%
5+ $680K$743K
+9.3%

Summary: Little Italy / University Village housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 33.1%, and 5+ bedroom homes increased by 9.3%.

Median Sold Price Compared To Nearby Neighborhoods

Lower West Side / Pilsen
+9.9%
United Center
+9.4%
Little Italy / University Village
0.2%
West Loop
0.2%

Housing Supply in Little Italy / University Village, IL

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7785+10.4%

Summary: The Little Italy / University Village real estate market had 85 homes for sale in November 2024, a 10.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 55
0.0%
2 3539
+11.4%
3 2022
+10.0%
4 23
+50.0%
5+ 1516
+6.7%

Summary: The Little Italy / University Village housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 6.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1520+33.3%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 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. 60% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Little Italy / University Village in November 2024, up by 33.3% month-over-month. Of the 20 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% 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

Nov 2023Nov 2024CHANGE
19 Days51 Days+160.9%

Summary: Homes in Little Italy / University Village had an average of 51 days on market in Nov 2024, up by 160.9% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Little Italy / University Village has remained consistent over time.

Summary: During November 2024, 20 homes were sold in Little Italy / University Village; 35% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 5% 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

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