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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Berwyn is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Berwyn, IL

How much do homes in Berwyn, IL cost?

Median Sold Price

$325,733

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$30,983(+10.5%)

Key Takeaway

Homes in Berwyn have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in Berwyn was $325,733 in May 2024, up 10.5% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $87.5K$110K
+25.7%
2 $223.4K$244.6K
+9.5%
3 $290K$313K
+7.9%
4 $329.5K$367.9K
+11.7%
5+ $372.5K$421.4K
+13.1%

Summary: Berwyn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 13.1%.

Median Sold Price Compared To Nearby Cities

Berwyn Township
+10.6%
Berwyn
+10.5%
Stickney
+6.8%
Cicero
+3.1%
Cicero Township
+3.1%

Housing Supply in Berwyn, IL

How many homes are available in Berwyn, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
152185+21.7%

Summary: The Berwyn real estate market had 185 homes for sale in May 2024, a 21.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 2831
+10.7%
3 5768
+19.3%
4 3852
+36.8%
5+ 2631
+19.2%

Summary: The Berwyn 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 10.7%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes increased by 19.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3244+37.5%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Berwyn, you may be able to get a good deal. 52.3% of homes here sold below asking price last month.

Summary: A total of 44 homes were sold or pending in Berwyn in May 2024, up by 37.5% month-over-month. Of the 44 sold homes, 52% were sold under asking, 7% were sold at asking, and 41% 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

May 2023May 2024CHANGE
48 Days27 Days-43.7%

Summary: Homes in Berwyn had an average of 27 days on market in May 2024, down by 43.7% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 44 homes were sold in Berwyn; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% 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 12 Days Ago

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