$7,124 Closing Credit*
$599,900
2 Beds
•2 Full Baths
Rebecca Lavin, Listing Office: @properties Christie's International Real Estate
Is Loop, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Loop has remained a Seller's Market.
Key Takeaway
Loop is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Loop, IL
How much do homes in Loop, IL cost?
Median Sold Price
$391,500
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$22,500(+6.1%)
Key Takeaway
Homes in Loop have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Loop was $391,500 in December 2024, up 6.1% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $274.5K | $270.6K | -1.4% |
| 2 Bedrooms | $413.5K | $450K | +8.8% |
| 3 Bedrooms | $903.7K | $955K | +5.7% |
| 4 Bedrooms | $2.8M | $1.9M | -32.2% |
| 5+ Bedrooms | $2.2M | $7.0M | +216.8% |
Summary: Loop housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 32.2%, and 5+ bedroom homes increased by 216.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Lakeshore East / New Eastside | $518.2K | $572K | +10.4% |
| Printer's Row | $265K | $283.7K | +7.1% |
| Loop | $369K | $391.5K | +6.1% |
Housing Supply in Loop, IL
How many homes are available in Loop, IL?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 268 | 264 | -1.5% |
Summary: The Loop real estate market had 264 homes for sale in December 2024, a 1.5% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 87 | 84 | -3.4% |
| 2 Bedrooms | 113 | 109 | -3.5% |
| 3 Bedrooms | 61 | 64 | +4.9% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Loop housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.4%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 4.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 44 | 48 | +9.1% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Loop, you may be able to get a good deal. 60.4% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in Loop in December 2024, up by 9.1% month-over-month. Of the 48 sold homes, 60% were sold under asking, 13% were sold at asking, and 27% were sold over asking.
Days on Market for Loop, IL
How long does it take to sell a home in Loop, IL?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 35 Days | 52 Days | +47.0% |
Summary: Homes in Loop had an average of 52 days on market in Dec 2024, up by 47% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Loop are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 48 homes were sold in Loop; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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