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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing University Park is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

University 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 University Park, IL

How much do homes in University Park, IL cost?

Median Sold Price

$184,500

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$9,500(+5.4%)

Key Takeaway

Homes in University Park have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in University Park was $184,500 in November 2024, up 5.4% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $50K-
N/A
2 $70.5K$76.4K
+8.4%
3 $169K$175K
+3.6%
4 $200.5K$240.7K
+20.1%
5+ $286K$268.5K
-6.1%

Summary: University 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 increased by 8.4%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes decreased by 6.1%.

Median Sold Price Compared To Nearby Cities

Monee Township
+12.4%
University Park
+5.4%
Monee
+5.3%
Park Forest
+1.8%
Richton Park
-2.5%

Housing Supply in University Park, IL

How many homes are available in University Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4544-2.2%

Summary: The University Park real estate market had 44 homes for sale in November 2024, a 2.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 2823
-17.9%
4 1216
+33.3%
5+ 22
0.0%

Summary: The University 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 remained the same, 3 bedroom homes decreased by 17.9%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in University Park, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in University Park in November 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.

Days on Market for University Park, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
59 Days36 Days-38.0%

Summary: Homes in University Park had an average of 36 days on market in Nov 2024, down by 38% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 7 homes were sold in University Park; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 17 Days Ago

Newest Listings in University Park, IL

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