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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oswego is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Oswego, IL

How much do homes in Oswego, IL cost?

Median Sold Price

$373,750

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$18,833(+5.3%)

Key Takeaway

Homes in Oswego have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Oswego was $373,750 in May 2024, up 5.3% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $135K$115K
-14.8%
2 $255K$265K
+3.9%
3 $315K$341K
+8.3%
4 $430K$446.5K
+3.8%
5+ $455K$503.1K
+10.6%

Summary: Oswego housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.8%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 10.6%.

Median Sold Price Compared To Nearby Cities

Bristol Township
+11.7%
Oswego
+5.3%
Oswego Township
+4.4%
Montgomery
-2.4%

Housing Supply in Oswego, IL

How many homes are available in Oswego, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
157168+7.0%

Summary: The Oswego real estate market had 168 homes for sale in May 2024, a 7.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 21
-50.0%
2 2424
0.0%
3 4859
+22.9%
4 6763
-6.0%
5+ 1621
+31.3%

Summary: The Oswego housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.9%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 31.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4756+19.1%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oswego, you could pay more than the asking price. 41.1% of homes here sold above asking price last month.

Summary: A total of 56 homes were sold or pending in Oswego in May 2024, up by 19.1% month-over-month. Of the 56 sold homes, 36% were sold under asking, 23% were sold at asking, and 41% were sold over asking.

Days on Market for Oswego, IL

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

Average Sale Time

May 2023May 2024CHANGE
13 Days19 Days+43.6%

Summary: Homes in Oswego had an average of 19 days on market in May 2024, up by 43.6% compared to last year.

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 56 homes were sold in Oswego; 84% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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