Is Cook County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cook County has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $186.4K | $199.8K | +7.2% |
2 Bedrooms | $253.8K | $265.3K | +4.6% |
3 Bedrooms | $322K | $329.8K | +2.4% |
4 Bedrooms | $412.5K | $424.1K | +2.8% |
5+ Bedrooms | $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 | $307.4K | $339.3K | +10.4% |
Lake County | $328.5K | $353.6K | +7.7% |
Will County | $304.8K | $325K | +6.6% |
DuPage County | $359.9K | $379.8K | +5.5% |
Cook County | $308.9K | $319.7K | +3.5% |
Housing Supply in Cook County, IL
How many homes are available in Cook County, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14,804 | 17,620 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1,202 | 1,500 | +24.8% |
2 Bedrooms | 3,634 | 4,314 | +18.7% |
3 Bedrooms | 5,185 | 6,117 | +18.0% |
4 Bedrooms | 2,627 | 3,141 | +19.6% |
5+ Bedrooms | 2,156 | 2,548 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
3,016 | 3,759 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 35 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
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.