Is West Chicago, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Chicago is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in West Chicago, IL

How much do homes in West Chicago, IL cost?

Median Sold Price

$378,500

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$33,500(+9.7%)

Key Takeaway

Homes in West Chicago have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in West Chicago was $378,500 in October 2024, up 9.7% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $95K$132.5K
+39.5%
2 $241.2K$265K
+9.8%
3 $329.2K$350K
+6.3%
4 $435K$515K
+18.4%
5+ $470K$507.5K
+8.0%

Summary: West Chicago housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.5%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 8%.

Median Sold Price Compared To Nearby Cities

Wayne Township
+12.7%
West Chicago
+9.7%
Geneva Township
+3.9%
Winfield Township
+2.9%
Wayne
-0.3%

Housing Supply in West Chicago, IL

How many homes are available in West Chicago, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6265+4.8%

Summary: The West Chicago real estate market had 65 homes for sale in October 2024, a 4.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 44
0.0%
3 3330
-9.1%
4 1620
+25.0%
5+ 78
+14.3%

Summary: The West Chicago housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2115-28.6%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Chicago, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in West Chicago in October 2024, down by 28.6% month-over-month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for West Chicago, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days11 Days-6.9%

Summary: Homes in West Chicago had an average of 11 days on market in Oct 2024, down by 6.9% compared to last year.

Breakdown of Home Sale Times

14 Homes Were 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 West Chicago are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 15 homes were sold in West Chicago; 93% of homes were sold within 30 days, 7% 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 16 Days Ago

Newest Listings in West Chicago, IL

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