Is Oswego, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oswego is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Oswego has remained a Seller's Market.

Key Takeaway

Oswego is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Oswego, IL

How much do homes in Oswego, IL cost?

Median Sold Price

$389,966

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,966(+8.3%)

Key Takeaway

Homes in Oswego have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Oswego was $389,966 in October 2024, up 8.3% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $118.7K$117.5K
-1.0%
2 $262K$270K
+3.1%
3 $315K$355K
+12.7%
4 $429.9K$452K
+5.1%
5+ $475K$520K
+9.5%

Summary: Oswego housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 9.5%.

Median Sold Price Compared To Nearby Cities

Bristol Township
+11.6%
Oswego
+8.3%
Oswego Township
+4.4%
Montgomery
+3.4%

Housing Supply in Oswego, IL

How many homes are available in Oswego, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
144148+2.8%

Summary: The Oswego real estate market had 148 homes for sale in October 2024, a 2.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 64
-33.3%
2 2324
+4.3%
3 4753
+12.8%
4 5953
-10.2%
5+ 914
+55.6%

Summary: The Oswego housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes increased by 55.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4933-32.7%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oswego, you could pay more than the asking price. 39.4% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in Oswego in October 2024, down by 32.7% month-over-month. Of the 33 sold homes, 36% were sold under asking, 24% were sold at asking, and 39% were sold over asking.

Days on Market for Oswego, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days16 Days0.1%

Summary: Homes in Oswego had an average of 16 days on market in Oct 2024, up by 0.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 33 homes were sold in Oswego; 88% of homes were sold within 30 days, 12% 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 20 Days Ago

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