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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Portage Park is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Portage Park, IL

How much do homes in Portage Park, IL cost?

Median Sold Price

$430,000

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$40,000(+10.3%)

Key Takeaway

Homes in Portage Park have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in Portage Park was $430,000 in November 2024, up 10.3% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $152K$128.7K
-15.3%
2 $225K$275K
+22.2%
3 $375K$425K
+13.3%
4 $419.5K$455.2K
+8.5%
5+ $495K$560.7K
+13.3%

Summary: Portage Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.3%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 13.3%.

Housing Supply in Portage Park, IL

How many homes are available in Portage Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
161154-4.3%

Summary: The Portage Park real estate market had 154 homes for sale in November 2024, a 4.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 24
+100.0%
2 1322
+69.2%
3 4539
-13.3%
4 5650
-10.7%
5+ 4539
-13.3%

Summary: The Portage Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 69.2%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes decreased by 13.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4442-4.5%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Portage Park, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.

Summary: A total of 42 homes were sold or pending in Portage Park in November 2024, down by 4.5% month-over-month. Of the 42 sold homes, 64% were sold under asking, 19% were sold at asking, and 17% were sold over asking.

Days on Market for Portage Park, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
24 Days26 Days+8.2%

Summary: Homes in Portage Park had an average of 26 days on market in Nov 2024, up by 8.2% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 42 homes were sold in Portage Park; 67% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 5% 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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