Is Fernwood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Fernwood was a Seller's Market.
Housing Prices in Fernwood, IL
How much do homes in Fernwood, IL cost?
Median Sold Price
$142,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Fernwood was $142,000 in May 2024, up 12.9% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $33K | $120K | +263.6% |
3 Bedrooms | $153K | $143K | -6.5% |
4 Bedrooms | $132.5K | $175K | +32.1% |
5+ Bedrooms | $222K | $180.5K | -18.7% |
Summary: Fernwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 263.6%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 32.1%, and 5+ bedroom homes decreased by 18.7%.
Median Sold Price Compared To Nearby Neighborhoods
Fernwood | $125.7K | $142K | +12.9% |
Far Southeast Side | $174.6K | $180K | +3.1% |
Roseland | $163.5K | $165.5K | +1.2% |
Housing Supply in Fernwood, IL
How many homes are available in Fernwood, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 29 | +20.8% |
Summary: The Fernwood real estate market had 29 homes for sale in May 2024, a 20.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 12 | 17 | +41.7% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Fernwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Fernwood in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Fernwood, IL
How long does it take to sell a home in Fernwood, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 19 Days | -58.7% |
Summary: Homes in Fernwood had an average of 19 days on market in May 2024, down by 58.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Fernwood; 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.