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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Side is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in West Side, IL

How much do homes in West Side, IL cost?

Median Sold Price

$420,298

$304/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,853(+3.2%)

Key Takeaway

Homes in West Side have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in West Side was $420,298 in May 2024, up 3.2% from last year, and the median price per square foot was $304.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $292.5K$300K
+2.6%
2 $415K$426.1K
+2.7%
3 $595.4K$599.9K
+0.7%
4 $380.5K$399K
+4.9%
5+ $363.3K$398.2K
+9.6%

Summary: West Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.6%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 9.6%.

Housing Supply in West Side, IL

How many homes are available in West Side, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,6211,773+9.4%

Summary: The West Side real estate market had 1,773 homes for sale in May 2024, a 9.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 125141
+12.8%
2 436456
+4.6%
3 416451
+8.4%
4 205242
+18.0%
5+ 439483
+10.0%

Summary: The West Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
434417-3.9%

Asking Price vs. Sold Price

150 Homes Were Sold
Under Asking

86 Homes Were Sold
At Asking

181 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Side, you could pay more than the asking price. 43.4% of homes here sold above asking price last month.

Summary: A total of 417 homes were sold or pending in West Side in May 2024, down by 3.9% month-over-month. Of the 417 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% were sold over asking.

Days on Market for West Side, IL

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

Average Sale Time

May 2023May 2024CHANGE
34 Days24 Days-26.5%

Summary: Homes in West Side had an average of 24 days on market in May 2024, down by 26.5% compared to last year.

Breakdown of Home Sale Times

336 Homes Were Sold
Under 30 Days

58 Homes Were Sold
In 30 - 90 Days

23 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 417 homes were sold in West Side; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% 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 3 Days Ago

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