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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington Park is a buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Washington Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Washington Park, IL

How much do homes in Washington Park, IL cost?

Median Sold Price

$225,000

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$8,000(-3.4%)

Key Takeaway

Homes in Washington Park have sold for 3.4% less than they did a year ago.

Summary: The median home sold price in Washington Park was $225,000 in October 2024, down 3.4% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $82K-
N/A
2 $126K$135K
+7.1%
3 $141K$208.5K
+47.9%
4 $439K$276K
-37.1%
5+ $687.5K$426.5K
-38.0%

Summary: Washington Park 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 7.1%, 3 bedroom homes increased by 47.9%, 4 bedroom homes decreased by 37.1%, and 5+ bedroom homes decreased by 38%.

Median Sold Price Compared To Nearby Neighborhoods

Hyde Park
+11.0%
South Side
+4.8%
Woodlawn
+3.0%
Grand Crossing
-0.2%
Washington Park
-3.4%

Housing Supply in Washington Park, IL

How many homes are available in Washington Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2939+34.5%

Summary: The Washington Park real estate market had 39 homes for sale in October 2024, a 34.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 68
+33.3%
3 413
+225.0%
4 43
-25.0%
5+ 1313
0.0%

Summary: The Washington Park 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 33.3%, 3 bedroom homes increased by 225%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington Park, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Washington Park in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for Washington Park, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days41 Days+99.5%

Summary: Homes in Washington Park had an average of 41 days on market in Oct 2024, up by 99.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 2 homes were sold in Washington Park; 50% of homes were sold within 30 days, 50% 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 Park, IL

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