Is Berwyn, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Berwyn was a Seller's Market.
Key Takeaway
Berwyn is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Berwyn, IL
How much do homes in Berwyn, IL cost?
Median Sold Price
$315,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Berwyn have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Berwyn was $315,000 in March 2024, up 6.5% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $110K | +11.1% |
| 2 Bedrooms | $225.5K | $235K | +4.2% |
| 3 Bedrooms | $295K | $299K | +1.4% |
| 4 Bedrooms | $330K | $360K | +9.1% |
| 5+ Bedrooms | $378.5K | $412K | +8.9% |
Summary: Berwyn housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Stickney | $245K | $265K | +8.2% |
| Berwyn | $295.6K | $315K | +6.5% |
| Berwyn Township | $296.2K | $315K | +6.3% |
| Cicero | $260K | $265K | +1.9% |
| Cicero Township | $260K | $265K | +1.9% |
Housing Supply in Berwyn, IL
How many homes are available in Berwyn, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 121 | 152 | +25.6% |
Summary: The Berwyn real estate market had 152 homes for sale in March 2024, a 25.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 19 | 26 | +36.8% |
| 3 Bedrooms | 45 | 54 | +20.0% |
| 4 Bedrooms | 34 | 43 | +26.5% |
| 5+ Bedrooms | 20 | 24 | +20.0% |
Summary: The Berwyn housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 36.8%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 26.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 22 | -35.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Berwyn, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Berwyn in March 2024, down by 35.3% month-over-month. Of the 22 sold homes, 32% were sold under asking, 18% were sold at asking, and 50% were sold over asking.
Days on Market for Berwyn, IL
How long does it take to sell a home in Berwyn, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 59 Days | +36.1% |
Summary: Homes in Berwyn had an average of 59 days on market in Mar 2024, up by 36.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Berwyn are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Berwyn; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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