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 neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

McKinley Park 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 McKinley Park, IL

How much do homes in McKinley Park, IL cost?

Median Sold Price

$366,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$46,000(+14.4%)

Key Takeaway

Homes in McKinley Park have sold for 14.4% more than they did a year ago.

Summary: The median home sold price in McKinley Park was $366,000 in November 2024, up 14.4% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $183K-
N/A
2 $270K$225K
-16.7%
3 $315K$363K
+15.2%
4 $345.5K$380K
+10.0%
5+ $362.5K$427.5K
+17.9%

Summary: McKinley Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 17.9%.

Median Sold Price Compared To Nearby Neighborhoods

McKinley Park
+14.4%
New City
+13.4%
Lower West Side / Pilsen
+9.9%
Southwest Side
+8.8%
Bridgeport
+6.6%

Housing Supply in McKinley Park, IL

How many homes are available in McKinley Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2934+17.2%

Summary: The McKinley Park real estate market had 34 homes for sale in November 2024, a 17.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 01
+100.0%
3 1316
+23.1%
4 24
+100.0%
5+ 1312
-7.7%

Summary: The McKinley Park 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 100%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 7.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McKinley Park, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in McKinley Park in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% 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

Nov 2023Nov 2024CHANGE
46 Days30 Days-34.2%

Summary: Homes in McKinley Park had an average of 30 days on market in Nov 2024, down by 34.2% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 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 November 2024, 5 homes were sold in McKinley Park; 60% of homes were sold within 30 days, 40% 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 21 Days Ago

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