Is Cook County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Cook County has remained a Seller's Market.
Housing Prices
How much do homes in Cook County, IL cost?
Median Sold Price
$307,937
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in Cook County was $307,937 in August 2023, the same as last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $184.4K | $190.2K | +3.1% |
2 Bedrooms | $250.1K | $253.2K | +1.2% |
3 Bedrooms | $318.1K | $319.7K | 0.5% |
4 Bedrooms | $408.5K | $409.5K | 0.2% |
5+ Bedrooms | $455.9K | $447.3K | -1.9% |
Summary: Cook County housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Counties
Kane County | $291K | $320.1K | +10.0% |
Lake County | $320.8K | $338.5K | +5.5% |
Will County | $296.9K | $310K | +4.4% |
DuPage County | $350K | $364.3K | +4.1% |
Cook County | $307.9K | $307.9K | 0.0% |
Housing Supply
How many homes are available in Cook County, IL?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
18,238 | 20,042 | +9.9% |
Summary: The Cook County real estate market had 20,042 homes for sale in August 2023, a 9.9% increase compared to July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 1,394 | 1,544 | +10.8% |
2 Bedrooms | 4,393 | 4,753 | +8.2% |
3 Bedrooms | 6,474 | 7,120 | +10.0% |
4 Bedrooms | 3,274 | 3,625 | +10.7% |
5+ Bedrooms | 2,703 | 3,000 | +11.0% |
Summary: The Cook County housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 11%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
4,718 | 4,727 | 0.2% |
Asking Price vs. Sold Price
2,053 Homes Were Sold
Under Asking
754 Homes Were Sold
At Asking
1,918 Homes Were Sold
Over Asking
Summary: A total of 4,727 homes were sold or pending in Cook County in August 2023, up by 0.2% month-over-month. Of the 4,725 sold homes, 43% were sold under asking, 16% were sold at asking, and 41% were sold over asking.
Days on Market
How long does it take to sell a home in Cook County, IL?
Average Sale Time
Aug 2022 | Aug 2023 | CHANGE |
---|---|---|
24 Days | 25 Days | +6.9% |
Summary: Homes in Cook County had an average of 25 days on market in Aug 2023, up by 6.9% compared to last year.
Breakdown of Home Sale Times
3,648 Homes Were Sold
Under 30 Days
820 Homes Were Sold
In 30 - 90 Days
258 Homes Were Sold
Over 90 Days
Summary: During August 2023, 4727 homes were sold in Cook County; 77% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.