Is Chicago Ridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$188,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Chicago Ridge was $188,000 in June 2024, up 10.9% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95.9K | $98K | +2.2% |
2 Bedrooms | $136.9K | $162.5K | +18.7% |
3 Bedrooms | $268.7K | $265K | -1.4% |
4 Bedrooms | $267.8K | $275K | +2.7% |
5+ Bedrooms | $449.9K | $400K | -11.1% |
Summary: Chicago Ridge housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 18.7%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 11.1%.
Median Sold Price Compared To Nearby Cities
Worth | $200K | $257K | +28.5% |
Chicago Ridge | $169.5K | $188K | +10.9% |
Bridgeview | $254K | $275K | +8.3% |
Worth Township | $233.6K | $250K | +7.0% |
Oak Lawn | $247.9K | $260.4K | +5.1% |
Housing Supply in Chicago Ridge, IL
How many homes are available in Chicago Ridge, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
40 | 46 | +15.0% |
Summary: The Chicago Ridge real estate market had 46 homes for sale in June 2024, a 15.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 16 | 23 | +43.8% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 4 | 3 | -25.0% |
5+ Bedrooms | 6 | 3 | -50.0% |
Summary: The Chicago Ridge housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 43.8%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
10 | 12 | +20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Chicago Ridge in June 2024, up by 20.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
41 Days | 34 Days | -17.9% |
Summary: Homes in Chicago Ridge had an average of 34 days on market in Jun 2024, down by 17.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 12 homes were sold in Chicago Ridge; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.