Is Cook County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$325,129
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
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
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $189.3K | $205.5K | +8.6% |
2 Bedrooms | $250K | $275K | +10.0% |
3 Bedrooms | $316K | $338.6K | +7.2% |
4 Bedrooms | $401.4K | $431.3K | +7.5% |
5+ Bedrooms | $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 | $314.5K | $350K | +11.3% |
Will County | $305.1K | $334.6K | +9.7% |
DuPage County | $360.1K | $389.5K | +8.2% |
Lake County | $329.6K | $356.7K | +8.2% |
Cook County | $305.1K | $325.1K | +6.5% |
Housing Supply in Cook County, IL
How many homes are available in Cook County, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
18,647 | 20,019 | +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
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1,569 | 1,664 | +6.1% |
2 Bedrooms | 4,633 | 4,888 | +5.5% |
3 Bedrooms | 6,384 | 6,791 | +6.4% |
4 Bedrooms | 3,363 | 3,740 | +11.2% |
5+ Bedrooms | 2,698 | 2,936 | +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 2024 | Jun 2024 | CHANGE |
---|---|---|
5,268 | 4,568 | -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
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 2023 | Jun 2024 | CHANGE |
---|---|---|
26 Days | 23 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
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.