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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Ridge is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in West Ridge, IL

How much do homes in West Ridge, IL cost?

Median Sold Price

$274,426

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$45,426(+19.8%)

Key Takeaway

Homes in West Ridge have sold for 19.8% more than they did a year ago.

Summary: The median home sold price in West Ridge was $274,426 in November 2024, up 19.8% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $125K$137K
+9.6%
2 $170K$182.5K
+7.4%
3 $328.7K$360K
+9.5%
4 $460K$516.2K
+12.2%
5+ $620K$656.5K
+5.9%

Summary: West Ridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 5.9%.

Housing Supply in West Ridge, IL

How many homes are available in West Ridge, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
179190+6.1%

Summary: The West Ridge real estate market had 190 homes for sale in November 2024, a 6.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2425
+4.2%
2 6671
+7.6%
3 5362
+17.0%
4 1213
+8.3%
5+ 2419
-20.8%

Summary: The West Ridge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 20.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3933-15.4%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Ridge, you may be able to get a good deal. 60.6% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in West Ridge in November 2024, down by 15.4% month-over-month. Of the 33 sold homes, 61% were sold under asking, 3% were sold at asking, and 36% were sold over asking.

Days on Market for West Ridge, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
13 Days36 Days+172.9%

Summary: Homes in West Ridge had an average of 36 days on market in Nov 2024, up by 172.9% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 33 homes were sold in West Ridge; 61% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 15% 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 10 Days Ago

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