Is Willow Springs, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Willow Springs is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Willow Springs has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Willow Springs, IL

How much do homes in Willow Springs, IL cost?

Median Sold Price

$375,000

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$34,111(+10.0%)

Key Takeaway

Homes in Willow Springs have sold for 10% more than they did a year ago.

Summary: The median home sold price in Willow Springs was $375,000 in October 2024, up 10% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $127K$198.5K
+56.3%
2 $260K$267K
+2.7%
3 $339K$417.5K
+23.2%
4 $417.5K$370K
-11.4%
5+ $595K$795K
+33.6%

Summary: Willow Springs housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.3%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 23.2%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes increased by 33.6%.

Median Sold Price Compared To Nearby Cities

Burr Ridge
+25.5%
Palos Township
+20.2%
Willow Springs
+10.0%
Justice
+9.0%

Housing Supply in Willow Springs, IL

How many homes are available in Willow Springs, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1923+21.1%

Summary: The Willow Springs real estate market had 23 homes for sale in October 2024, a 21.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 79
+28.6%
3 66
0.0%
4 46
+50.0%
5+ 11
0.0%

Summary: The Willow Springs 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 28.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
36+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Willow Springs, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Willow Springs in October 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for Willow Springs, IL

How long does it take to sell a home in Willow Springs, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days40 Days+158.4%

Summary: Homes in Willow Springs had an average of 40 days on market in Oct 2024, up by 158.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 6 homes were sold in Willow Springs; 50% of homes were sold within 30 days, 50% 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 16 Days Ago

Newest Listings in Willow Springs, IL

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