Is Chicago Ridge, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chicago Ridge is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Chicago Ridge, IL cost?

Median Sold Price

$190,000

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$33,500(+21.4%)

Key Takeaway

Homes in Chicago Ridge have sold for 21.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $77K$81.7K
+6.2%
2 $115.1K$141K
+22.5%
3 $240K$270K
+12.5%
4 $281.7K$267K
-5.2%
5+ $380K$429.9K
+13.1%

Median Sold Price Compared To Nearby Cities

Chicago Ridge
+21.4%
Oak Lawn
+13.3%
Bridgeview
+12.7%
Worth
+12.5%
Palos Hills
0.4%

How many homes are available in Chicago Ridge, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
7975-5.1%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 23
+50.0%
2 4038
-5.0%
3 2323
0.0%
4 107
-30.0%
5+ 44
0.0%

Number of Homes Sold

Aug 2022Sep 2022%
19190.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Ridge, expect to pay close to the asking price. 42.1% of homes here sold near the asking price last month.

Average Sale Time

Sep 2021Sep 2022%
14 Days22 Days+54.8%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Chicago Ridge, IL

Chicago Ridge, IL has 75 homes on the market. The number of listings in Chicago Ridge, IL decreased by 5.1% between August 2022 and September 2022. In September 2022 median list price was $190,000 and the average listing age was 22 days. Listing prices have changed in this real estate market between August 2022 and September 2022: 1 bedroom properties became 6.2% more expensive, prices of 2 bedrooms properties went up by 22.5%, 3 bedrooms properties became 12.5% more expensive, prices of 4 bedrooms properties decreased by 5.2%, 5 bedrooms properties prices increased by 13.1%. This housing market inventory have changed: 1 bedroom homes inventory increased by 50%, the quantity of 2 bedrooms homes went down by 5%, 3 bedrooms homes did not move, 4 bedrooms homes inventory decreased by 30%, the quantity of 5 bedrooms homes have not changed. While more than 5 listings in Chicago Ridge, IL in September 2022 were sold above asking price, there were more than 8 listings sold at asking price, and more than 6 were sold below.

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