Is Chicago Ridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Chicago Ridge was a Seller's Market.
Housing Prices in Chicago Ridge, IL
How much do homes in Chicago Ridge, IL cost?
Median Sold Price
$160,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
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
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $83K | $102.5K | +23.5% |
2 Bedrooms | $142K | $134.2K | -5.5% |
3 Bedrooms | $275K | $271K | -1.5% |
4 Bedrooms | $267K | $300K | +12.4% |
5+ Bedrooms | $427.4K | $389.9K | -8.8% |
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
Bridgeview | $258.5K | $265K | +2.5% |
Oak Lawn | $245.3K | $249.1K | +1.6% |
Worth Township | $234.9K | $238.4K | +1.5% |
Worth | $223K | $220K | -1.3% |
Chicago Ridge | $192K | $160K | -16.7% |
Housing Supply in Chicago Ridge, IL
How many homes are available in Chicago Ridge, IL?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
44 | 51 | +15.9% |
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
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 7 | +133.3% |
2 Bedrooms | 21 | 19 | -9.5% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
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 2023 | Nov 2023 | CHANGE |
---|---|---|
11 | 7 | -36.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
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 2022 | Nov 2023 | CHANGE |
---|---|---|
22 Days | 20 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
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.