Is Chicago Ridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Chicago Ridge has remained a Seller's Market.
Housing Prices in Chicago Ridge, IL
How much do homes in Chicago Ridge, IL cost?
Median Sold Price
$180,750
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Chicago Ridge was $180,750 in March 2024, up 9.2% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $88.5K | $103K | +16.4% |
2 Bedrooms | $131.7K | $155K | +17.6% |
3 Bedrooms | $271K | $265K | -2.2% |
4 Bedrooms | $270.1K | $285K | +5.5% |
5+ Bedrooms | $429.9K | $455K | +5.8% |
Summary: Chicago Ridge housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 17.6%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
Worth | $203K | $249.5K | +22.9% |
Chicago Ridge | $165.5K | $180.7K | +9.2% |
Worth Township | $230K | $244.9K | +6.5% |
Bridgeview | $254.5K | $270K | +6.1% |
Oak Lawn | $240.3K | $251.5K | +4.6% |
Housing Supply in Chicago Ridge, IL
How many homes are available in Chicago Ridge, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 33 | +17.9% |
Summary: The Chicago Ridge real estate market had 33 homes for sale in March 2024, a 17.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 12 | 15 | +25.0% |
3 Bedrooms | 7 | 7 | 0.0% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Chicago Ridge housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Chicago Ridge in March 2024, up by 83.3% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Chicago Ridge, IL
How long does it take to sell a home in Chicago Ridge, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 40 Days | -18.8% |
Summary: Homes in Chicago Ridge had an average of 40 days on market in Mar 2024, down by 18.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in Chicago Ridge; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.