Is Northwest 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, Northwest Side has remained a Seller's Market.
Housing Prices in Northwest Side, IL
How much do homes in Northwest Side, IL cost?
Median Sold Price
$381,519
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northwest Side was $381,519 in May 2024, up 4.8% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $143K | $141K | -1.4% |
2 Bedrooms | $250K | $270K | +8.0% |
3 Bedrooms | $365.5K | $384.5K | +5.2% |
4 Bedrooms | $409.6K | $440K | +7.4% |
5+ Bedrooms | $478.3K | $520.7K | +8.9% |
Summary: Northwest Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Neighborhoods
Irving Park Blvd. Gardens | $345K | $375K | +8.7% |
Northwest Side | $364K | $381.5K | +4.8% |
Housing Supply in Northwest Side, IL
How many homes are available in Northwest Side, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
550 | 623 | +13.3% |
Summary: The Northwest Side real estate market had 623 homes for sale in May 2024, a 13.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 15 | 0.0% |
2 Bedrooms | 114 | 121 | +6.1% |
3 Bedrooms | 187 | 206 | +10.2% |
4 Bedrooms | 124 | 162 | +30.6% |
5+ Bedrooms | 110 | 119 | +8.2% |
Summary: The Northwest Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes increased by 8.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
177 | 168 | -5.1% |
Asking Price vs. Sold Price
63 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
77 Homes Were Sold
Over Asking
Summary: A total of 168 homes were sold or pending in Northwest Side in May 2024, down by 5.1% month-over-month. Of the 168 sold homes, 38% were sold under asking, 17% were sold at asking, and 46% were sold over asking.
Days on Market for Northwest Side, IL
How long does it take to sell a home in Northwest Side, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 20 Days | -27.3% |
Summary: Homes in Northwest Side had an average of 20 days on market in May 2024, down by 27.3% compared to last year.
Breakdown of Home Sale Times
140 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 168 homes were sold in Northwest Side; 83% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.