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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Lawn is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, West Lawn was a Seller's Market.

Key Takeaway

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

Housing Prices in West Lawn, IL

How much do homes in West Lawn, IL cost?

Median Sold Price

$311,500

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$51,000(+19.6%)

Key Takeaway

Homes in West Lawn have sold for 19.6% more than they did a year ago.

Summary: The median home sold price in West Lawn was $311,500 in October 2024, up 19.6% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $19K$39.5K
+107.9%
2 $135K$185K
+37.0%
3 $288.9K$325K
+12.5%
4 $289.5K$325K
+12.3%
5+ $325K$357.6K
+10.0%

Summary: West Lawn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 107.9%, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Neighborhoods

West Lawn
+19.6%
Ford City
+16.0%
Ashburn
+7.8%
Chicago Lawn
+7.7%

Housing Supply in West Lawn, IL

How many homes are available in West Lawn, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3341+24.2%

Summary: The West Lawn real estate market had 41 homes for sale in October 2024, a 24.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 45
+25.0%
2 109
-10.0%
3 914
+55.6%
4 69
+50.0%
5+ 44
0.0%

Summary: The West Lawn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
85-37.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Lawn, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in West Lawn in October 2024, down by 37.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.

Days on Market for West Lawn, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
46 Days13 Days-70.4%

Summary: Homes in West Lawn had an average of 13 days on market in Oct 2024, down by 70.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 5 homes were sold in West Lawn; 100% of homes were sold within 30 days, 0% 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 21 Days Ago

Newest Listings in West Lawn, IL

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