Is Woodlawn, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Woodlawn is a buyer's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Woodlawn was a Seller's Market.

Key Takeaway

Woodlawn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Woodlawn, IL

How much do homes in Woodlawn, IL cost?

Median Sold Price

$329,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$44,000(+15.4%)

Key Takeaway

Homes in Woodlawn have sold for 15.4% more than they did a year ago.

Summary: The median home sold price in Woodlawn was $329,000 in December 2024, up 15.4% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $79K$120K
+51.9%
2 $191K$175K
-8.4%
3 $262K$260K
-0.8%
4 $353K$470K
+33.1%
5+ $370K$470K
+27.0%

Summary: Woodlawn housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51.9%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 33.1%, and 5+ bedroom homes increased by 27%.

Median Sold Price Compared To Nearby Neighborhoods

Woodlawn
+15.4%
Grand Crossing
+11.5%
South Side
+5.8%

Housing Supply in Woodlawn, IL

How many homes are available in Woodlawn, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1011010.0%

Summary: The Woodlawn real estate market had 101 homes for sale in December 2024, the same as November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 24
+100.0%
2 1511
-26.7%
3 2227
+22.7%
4 1514
-6.7%
5+ 4745
-4.3%

Summary: The Woodlawn housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 4.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1712-29.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Woodlawn, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Woodlawn in December 2024, down by 29.4% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.

Days on Market for Woodlawn, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
39 Days51 Days+32.5%

Summary: Homes in Woodlawn had an average of 51 days on market in Dec 2024, up by 32.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 12 homes were sold in Woodlawn; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% 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 2 Days Ago

Newest Listings in Woodlawn, IL

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