Is Cook County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cook County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Cook County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Cook County, IL

How much do homes in Cook County, IL cost?

Median Sold Price

$319,776

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$10,872(+3.5%)

Key Takeaway

Homes in Cook County have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Cook County was $319,776 in March 2024, up 3.5% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $186.4K$199.8K
+7.2%
2 $253.8K$265.3K
+4.6%
3 $322K$329.8K
+2.4%
4 $412.5K$424.1K
+2.8%
5+ $458.7K$459.8K
0.2%

Summary: Cook County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 0.2%.

Median Sold Price Compared To Nearby Counties

Kane County
+10.4%
Lake County
+7.7%
Will County
+6.6%
DuPage County
+5.5%
Cook County
+3.5%

Housing Supply in Cook County, IL

How many homes are available in Cook County, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
14,80417,620+19.0%

Summary: The Cook County real estate market had 17,620 homes for sale in March 2024, a 19.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1,2021,500
+24.8%
2 3,6344,314
+18.7%
3 5,1856,117
+18.0%
4 2,6273,141
+19.6%
5+ 2,1562,548
+18.2%

Summary: The Cook County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 24.8%, 2 bedroom homes increased by 18.7%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3,0163,759+24.6%

Asking Price vs. Sold Price

1,733 Homes Were Sold
Under Asking

631 Homes Were Sold
At Asking

1,393 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cook County, you may be able to get a good deal. 46.1% of homes here sold below asking price last month.

Summary: A total of 3,759 homes were sold or pending in Cook County in March 2024, up by 24.6% month-over-month. Of the 3,757 sold homes, 46% were sold under asking, 17% were sold at asking, and 37% were sold over asking.

Days on Market for Cook County, IL

How long does it take to sell a home in Cook County, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days35 Days-14.9%

Summary: Homes in Cook County had an average of 35 days on market in Mar 2024, down by 14.9% compared to last year.

Breakdown of Home Sale Times

2,606 Homes Were Sold
Under 30 Days

710 Homes Were Sold
In 30 - 90 Days

443 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 3759 homes were sold in Cook County; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 12% 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 26 Days Ago

Newest Listings in Cook County, IL

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