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 February 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

$315,611

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,986(+1.9%)

Key Takeaway

Homes in Cook County have sold for 1.9% more than they did a year ago.

Summary: The median home sold price in Cook County was $315,611 in February 2024, up 1.9% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $185.5K$198.8K
+7.2%
2 $254K$264.9K
+4.3%
3 $324.5K$327.9K
+1.0%
4 $412.5K$421.1K
+2.1%
5+ $457.8K$451K
-1.5%

Summary: Cook County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 1.5%.

Median Sold Price Compared To Nearby Counties

Kane County
+9.5%
Will County
+7.3%
Lake County
+6.7%
DuPage County
+4.4%
Cook County
+1.9%

Housing Supply in Cook County, IL

How many homes are available in Cook County, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
12,80315,853+23.8%

Summary: The Cook County real estate market had 15,853 homes for sale in February 2024, a 23.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 9601,275
+32.8%
2 3,0353,814
+25.7%
3 4,5225,544
+22.6%
4 2,3332,865
+22.8%
5+ 1,9532,355
+20.6%

Summary: The Cook County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 32.8%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 20.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2,6382,745+4.1%

Asking Price vs. Sold Price

1,409 Homes Were Sold
Under Asking

460 Homes Were Sold
At Asking

875 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. 51.3% of homes here sold below asking price last month.

Summary: A total of 2,745 homes were sold or pending in Cook County in February 2024, up by 4.1% month-over-month. Of the 2,744 sold homes, 51% were sold under asking, 17% were sold at asking, and 32% 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

Feb 2023Feb 2024CHANGE
46 Days41 Days-10.7%

Summary: Homes in Cook County had an average of 41 days on market in Feb 2024, down by 10.7% compared to last year.

Breakdown of Home Sale Times

1,646 Homes Were Sold
Under 30 Days

723 Homes Were Sold
In 30 - 90 Days

376 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 February 2024, 2745 homes were sold in Cook County; 60% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 14% 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 3 Days Ago

Newest Listings in Cook County, IL

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