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 October 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

$370,000

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$46,666(+14.4%)

Key Takeaway

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

Summary: The median home sold price in Shorewood was $370,000 in October 2024, up 14.4% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $269K$285K
+5.9%
3 $300K$340K
+13.3%
4 $400K$437.9K
+9.5%
5+ $552.4K$424.9K
-23.1%

Summary: Shorewood 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 increased by 5.9%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 23.1%.

Median Sold Price Compared To Nearby Cities

Shorewood
+14.4%
Troy Township
+8.4%
Joliet
+6.1%

Housing Supply in Shorewood, IL

How many homes are available in Shorewood, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7079+12.9%

Summary: The Shorewood real estate market had 79 homes for sale in October 2024, a 12.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 1718
+5.9%
3 3239
+21.9%
4 2120
-4.8%
5+ 01
+100.0%

Summary: The Shorewood 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 increased by 5.9%, 3 bedroom homes increased by 21.9%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2218-18.2%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 18 homes were sold or pending in Shorewood in October 2024, down by 18.2% month-over-month. Of the 18 sold homes, 39% were sold under asking, 11% were sold at asking, and 50% 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

Oct 2023Oct 2024CHANGE
15 Days21 Days+41.4%

Summary: Homes in Shorewood had an average of 21 days on market in Oct 2024, up by 41.4% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

3 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 October 2024, 18 homes were sold in Shorewood; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% 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

Newest Listings in Shorewood, IL

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