Is East Washington Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Washington Heights is a buyer's market

Buyer's
Market

Difference Since August 2023

At the same time last year, East Washington Heights was a Seller's Market.

Key Takeaway

East Washington Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in East Washington Heights, IL

How much do homes in East Washington Heights, IL cost?

Median Sold Price

$187,000

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$15,000(+8.7%)

Key Takeaway

Homes in East Washington Heights have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in East Washington Heights was $187,000 in August 2024, up 8.7% from last year, and the median price per square foot was $139.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 --
N/A
2 $182.2K$119.7K
-34.3%
3 $199.5K$202K
+1.3%
4 $93.2K$229.5K
+146.1%
5+ $245.7K-
N/A

Summary: East Washington Heights housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 34.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 146.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Washington Heights
+11.6%
East Washington Heights
+8.7%
Far Southwest Side
+6.3%

Housing Supply in East Washington Heights, IL

How many homes are available in East Washington Heights, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
1820+11.1%

Summary: The East Washington Heights real estate market had 20 homes for sale in August 2024, a 11.1% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1012
+20.0%
4 56
+20.0%
5+ 00
0.0%

Summary: The East Washington Heights housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Washington Heights, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in East Washington Heights in August 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for East Washington Heights, IL

How long does it take to sell a home in East Washington Heights, IL?

Average Sale Time

Aug 2023Aug 2024CHANGE
65 Days6 Days-90.9%

Summary: Homes in East Washington Heights had an average of 6 days on market in Aug 2024, down by 90.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in East Washington Heights are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 2 homes were sold in East Washington Heights; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 19 Days Ago

Newest Listings in East Washington Heights, IL

Nearby Markets to East Washington Heights, IL