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

Housing Market Conditions



Gauge showing Chicago Ridge is a buyer's market


Difference Since November 2022

At the same time last year, Chicago Ridge was a Seller's Market.

Key Takeaway

Chicago Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Chicago Ridge, IL

How much do homes in Chicago Ridge, IL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

Homes in Chicago Ridge have sold for 16.7% less than they did a year ago.

Summary: The median home sold price in Chicago Ridge was $160,000 in November 2023, down 16.7% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $83K$102.5K
2 $142K$134.2K
3 $275K$271K
4 $267K$300K
5+ $427.4K$389.9K

Summary: Chicago Ridge housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 23.5%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes decreased by 8.8%.

Median Sold Price Compared To Nearby Cities

Oak Lawn
Worth Township
Chicago Ridge

Housing Supply in Chicago Ridge, IL

How many homes are available in Chicago Ridge, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Chicago Ridge real estate market had 51 homes for sale in November 2023, a 15.9% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 37
2 2119
3 1216
4 33
5+ 56

Summary: The Chicago Ridge housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Ridge, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Chicago Ridge in November 2023, down by 36.4% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% 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

Nov 2022Nov 2023CHANGE
22 Days20 Days-8.5%

Summary: Homes in Chicago Ridge had an average of 20 days on market in Nov 2023, down by 8.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 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.

Summary: During November 2023, 7 homes were sold in Chicago Ridge; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% 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 10 Days Ago

Newest Listings in Chicago Ridge, IL

Nearby Markets to Chicago Ridge, IL

What housing markets are near Chicago Ridge, IL?