Is University Park, 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, University Park has remained a Seller's Market.
Housing Prices in University Park, IL
How much do homes in University Park, IL cost?
Median Sold Price
$175,000
$94/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Summary: The median home sold price in University Park was $175,000 in May 2024, the same as last year, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $55.5K | - | N/A |
2 Bedrooms | $71K | $76.4K | +7.6% |
3 Bedrooms | $169.9K | $168K | -1.1% |
4 Bedrooms | $222.9K | $234K | +4.9% |
5+ Bedrooms | $277K | $265K | -4.3% |
Summary: University Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
Richton Park | $183K | $194K | +6.0% |
Monee | $285.7K | $299.4K | +4.8% |
Monee Township | $212.8K | $214.1K | +0.6% |
Park Forest | $140K | $140.7K | 0.5% |
University Park | $175K | $175K | 0.0% |
Housing Supply in University Park, IL
How many homes are available in University Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 39 | +8.3% |
Summary: The University Park real estate market had 39 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 20 | 18 | -10.0% |
4 Bedrooms | 9 | 14 | +55.6% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The University Park 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 decreased by 16.7%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in University Park in May 2024, down by 11.1% month-over-month. Of the 8 sold homes, 63% were sold under asking, 0% were sold at asking, and 38% were sold over asking.
Days on Market for University Park, IL
How long does it take to sell a home in University Park, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 36 Days | +36.4% |
Summary: Homes in University Park had an average of 36 days on market in May 2024, up by 36.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in University Park; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.