Is Washington Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington Heights is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Washington Heights was a Seller's Market.

Key Takeaway

Washington Heights 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 Washington Heights, IL

How much do homes in Washington Heights, IL cost?

Median Sold Price

$212,000

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$18,000(+9.3%)

Key Takeaway

Homes in Washington Heights have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Washington Heights was $212,000 in October 2024, up 9.3% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $190K-
N/A
2 $142.5K$140K
-1.8%
3 $175K$213.5K
+22.0%
4 $241K$229.5K
-4.8%
5+ $253.5K$282.5K
+11.4%

Summary: Washington Heights 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 decreased by 1.8%, 3 bedroom homes increased by 22%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 11.4%.

Median Sold Price Compared To Nearby Neighborhoods

Washington Heights
+9.3%
East Washington Heights
-10.4%

Housing Supply in Washington Heights, IL

How many homes are available in Washington Heights, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
120141+17.5%

Summary: The Washington Heights real estate market had 141 homes for sale in October 2024, a 17.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1928
+47.4%
3 5867
+15.5%
4 3234
+6.3%
5+ 1112
+9.1%

Summary: The Washington Heights housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 47.4%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1722+29.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington Heights, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Washington Heights in October 2024, up by 29.4% month-over-month. Of the 21 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Washington Heights, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
33 Days23 Days-30.2%

Summary: Homes in Washington Heights had an average of 23 days on market in Oct 2024, down by 30.2% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 22 homes were sold in Washington Heights; 68% of homes were sold within 30 days, 32% 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

Newest Listings in Washington Heights, IL

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