Is Lower West Side / Pilsen, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lower West Side / Pilsen is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Lower West Side / Pilsen was a Seller's Market.

Key Takeaway

Lower West Side / Pilsen is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lower West Side / Pilsen, IL

How much do homes in Lower West Side / Pilsen, IL cost?

Median Sold Price

$475,000

$269/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$47,500(+11.1%)

Key Takeaway

Homes in Lower West Side / Pilsen have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Lower West Side / Pilsen was $475,000 in October 2024, up 11.1% from last year, and the median price per square foot was $269.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $262.5K$267K
+1.7%
2 $348.5K$400K
+14.8%
3 $442.5K$459.9K
+4.0%
4 $386.5K$527.5K
+36.5%
5+ $450K$550K
+22.2%

Summary: Lower West Side / Pilsen housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 36.5%, and 5+ bedroom homes increased by 22.2%.

Median Sold Price Compared To Nearby Neighborhoods

McKinley Park
+12.5%
Lower West Side / Pilsen
+11.1%
Bridgeport
+3.7%
Little Italy / University Village
0.4%

Housing Supply in Lower West Side / Pilsen, IL

How many homes are available in Lower West Side / Pilsen, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5560+9.1%

Summary: The Lower West Side / Pilsen real estate market had 60 homes for sale in October 2024, a 9.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 911
+22.2%
3 1821
+16.7%
4 67
+16.7%
5+ 2220
-9.1%

Summary: The Lower West Side / Pilsen housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
134-69.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lower West Side / Pilsen, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Lower West Side / Pilsen in October 2024, down by 69.2% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Lower West Side / Pilsen, IL

How long does it take to sell a home in Lower West Side / Pilsen, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
36 Days54 Days+49.3%

Summary: Homes in Lower West Side / Pilsen had an average of 54 days on market in Oct 2024, up by 49.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lower West Side / Pilsen are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in Lower West Side / Pilsen; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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

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