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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Town is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in West Town, IL

How much do homes in West Town, IL cost?

Median Sold Price

$630,000

$345/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$39,875(+6.8%)

Key Takeaway

Homes in West Town have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in West Town was $630,000 in October 2024, up 6.8% from last year, and the median price per square foot was $345.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $299K$301.2K
+0.8%
2 $440K$477K
+8.4%
3 $675K$717.5K
+6.3%
4 $808K$940K
+16.3%
5+ $1.1M$999.5K
-11.9%

Summary: West Town housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes decreased by 11.9%.

Median Sold Price Compared To Nearby Neighborhoods

Noble Square
+15.1%
West Town
+6.8%
East Village
0.0%

Housing Supply in West Town, IL

How many homes are available in West Town, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
171208+21.6%

Summary: The West Town real estate market had 208 homes for sale in October 2024, a 21.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1111
0.0%
2 5158
+13.7%
3 5884
+44.8%
4 2425
+4.2%
5+ 2730
+11.1%

Summary: The West Town housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 44.8%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4137-9.8%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

9 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 Town, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in West Town in October 2024, down by 9.8% month-over-month. Of the 37 sold homes, 59% were sold under asking, 24% were sold at asking, and 16% were sold over asking.

Days on Market for West Town, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
40 Days22 Days-44.3%

Summary: Homes in West Town had an average of 22 days on market in Oct 2024, down by 44.3% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 37 homes were sold in West Town; 86% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 8% 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 14 Days Ago

Newest Listings in West Town, IL

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