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 June 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

$325,129

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$19,963(+6.5%)

Key Takeaway

Homes in Cook County have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Cook County was $325,129 in June 2024, up 6.5% from last year, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $189.3K$205.5K
+8.6%
2 $250K$275K
+10.0%
3 $316K$338.6K
+7.2%
4 $401.4K$431.3K
+7.5%
5+ $449.2K$474.9K
+5.7%

Summary: Cook County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 5.7%.

Median Sold Price Compared To Nearby Counties

Kane County
+11.3%
Will County
+9.7%
DuPage County
+8.2%
Lake County
+8.2%
Cook County
+6.5%

Housing Supply in Cook County, IL

How many homes are available in Cook County, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
18,64720,019+7.4%

Summary: The Cook County real estate market had 20,019 homes for sale in June 2024, a 7.4% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 1,5691,664
+6.1%
2 4,6334,888
+5.5%
3 6,3846,791
+6.4%
4 3,3633,740
+11.2%
5+ 2,6982,936
+8.8%

Summary: The Cook County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 8.8%.

Number of Homes Sold

May 2024Jun 2024CHANGE
5,2684,568-13.3%

Asking Price vs. Sold Price

1,669 Homes Were Sold
Under Asking

763 Homes Were Sold
At Asking

2,135 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cook County, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.

Summary: A total of 4,568 homes were sold or pending in Cook County in June 2024, down by 13.3% month-over-month. Of the 4,567 sold homes, 37% were sold under asking, 17% were sold at asking, and 47% 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

Jun 2023Jun 2024CHANGE
26 Days23 Days-10.8%

Summary: Homes in Cook County had an average of 23 days on market in Jun 2024, down by 10.8% compared to last year.

Breakdown of Home Sale Times

3,657 Homes Were Sold
Under 30 Days

668 Homes Were Sold
In 30 - 90 Days

243 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 June 2024, 4568 homes were sold in Cook County; 80% of homes were sold within 30 days, 15% 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 26 Days Ago

Newest Listings in Cook County, IL

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