Is McKinley Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McKinley Park is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, McKinley Park was a Seller's Market.

Key Takeaway

McKinley Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in McKinley Park, IL

How much do homes in McKinley Park, IL cost?

Median Sold Price

$360,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,000(+12.5%)

Key Takeaway

Homes in McKinley Park have sold for 12.5% more than they did a year ago.

Summary: The median home sold price in McKinley Park was $360,000 in October 2024, up 12.5% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $183K-
N/A
2 $241.7K$225K
-6.9%
3 $315K$352.5K
+11.9%
4 $345.5K$380K
+10.0%
5+ $369K$427.5K
+15.9%

Summary: McKinley Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 15.9%.

Median Sold Price Compared To Nearby Neighborhoods

New City
+13.6%
McKinley Park
+12.5%
Lower West Side / Pilsen
+11.1%
Southwest Side
+8.9%
Bridgeport
+3.7%

Housing Supply in McKinley Park, IL

How many homes are available in McKinley Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3031+3.3%

Summary: The McKinley Park real estate market had 31 homes for sale in October 2024, a 3.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 10
-100.0%
3 1414
0.0%
4 33
0.0%
5+ 1213
+8.3%

Summary: The McKinley Park 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 decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McKinley Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in McKinley Park in October 2024, down by 50.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for McKinley Park, IL

How long does it take to sell a home in McKinley Park, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days10 Days-43.2%

Summary: Homes in McKinley Park had an average of 10 days on market in Oct 2024, down by 43.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in McKinley Park are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in McKinley Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 13 Days Ago

Newest Listings in McKinley Park, IL

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