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 September 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

$331,897

$219/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$22,217(+7.2%)

Key Takeaway

Homes in Cook County have sold for 7.2% more than they did a year ago.

Summary: The median home sold price in Cook County was $331,897 in September 2024, up 7.2% from last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $190.8K$210.4K
+10.3%
2 $255.8K$280.7K
+9.7%
3 $320.3K$345.1K
+7.8%
4 $409.3K$438.1K
+7.0%
5+ $449.8K$495.1K
+10.1%

Summary: Cook County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 10.1%.

Median Sold Price Compared To Nearby Counties

Kane County
+10.1%
DuPage County
+9.0%
Will County
+8.0%
Cook County
+7.2%
Lake County
+7.0%

Housing Supply in Cook County, IL

How many homes are available in Cook County, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
17,42519,186+10.1%

Summary: The Cook County real estate market had 19,186 homes for sale in September 2024, a 10.1% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1,4241,545
+8.5%
2 4,2574,632
+8.8%
3 6,0406,691
+10.8%
4 3,1933,492
+9.4%
5+ 2,5112,826
+12.5%

Summary: The Cook County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4,7613,518-26.1%

Asking Price vs. Sold Price

1,654 Homes Were Sold
Under Asking

630 Homes Were Sold
At Asking

1,233 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. 47% of homes here sold below asking price last month.

Summary: A total of 3,518 homes were sold or pending in Cook County in September 2024, down by 26.1% month-over-month. Of the 3,517 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% 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

Sep 2023Sep 2024CHANGE
27 Days26 Days-4.0%

Summary: Homes in Cook County had an average of 26 days on market in Sep 2024, down by 4% compared to last year.

Breakdown of Home Sale Times

2,623 Homes Were Sold
Under 30 Days

705 Homes Were Sold
In 30 - 90 Days

190 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 September 2024, 3518 homes were sold in Cook County; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% 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 14 Days Ago

Newest Listings in Cook County, IL

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