Is West Side, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, West Side has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $292.5K | $300K | +2.6% |
2 Bedrooms | $415K | $426.1K | +2.7% |
3 Bedrooms | $595.4K | $599.9K | +0.7% |
4 Bedrooms | $380.5K | $399K | +4.9% |
5+ Bedrooms | $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 2024 | May 2024 | CHANGE |
---|---|---|
1,621 | 1,773 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 125 | 141 | +12.8% |
2 Bedrooms | 436 | 456 | +4.6% |
3 Bedrooms | 416 | 451 | +8.4% |
4 Bedrooms | 205 | 242 | +18.0% |
5+ Bedrooms | 439 | 483 | +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 2024 | May 2024 | CHANGE |
---|---|---|
434 | 417 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 24 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
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.