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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shorewood is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Shorewood, IL

How much do homes in Shorewood, IL cost?

Median Sold Price

$365,000

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$35,000(+10.6%)

Key Takeaway

Homes in Shorewood have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Shorewood was $365,000 in November 2024, up 10.6% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $279K$285K
+2.2%
3 $300K$340K
+13.3%
4 $401.5K$435K
+8.3%
5+ $602.4K$412.4K
-31.5%

Summary: Shorewood 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 increased by 2.2%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 31.5%.

Median Sold Price Compared To Nearby Cities

Shorewood
+10.6%
Troy Township
+8.3%
Joliet
+4.8%

Housing Supply in Shorewood, IL

How many homes are available in Shorewood, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7071+1.4%

Summary: The Shorewood real estate market had 71 homes for sale in November 2024, a 1.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1518
+20.0%
3 3632
-11.1%
4 1819
+5.6%
5+ 01
+100.0%

Summary: The Shorewood 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 20%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1920+5.3%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shorewood, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Shorewood in November 2024, up by 5.3% month-over-month. Of the 20 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for Shorewood, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
32 Days28 Days-14.4%

Summary: Homes in Shorewood had an average of 28 days on market in Nov 2024, down by 14.4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 20 homes were sold in Shorewood; 60% of homes were sold within 30 days, 35% 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 22 Days Ago

Newest Listings in Shorewood, IL

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