Is Garage Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Garage Park has remained a Seller's Market.
Housing Prices in Garage Park, IL
How much do homes in Garage Park, IL cost?
Median Sold Price
$269,450
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Garage Park was $269,450 in April 2024, up 5.7% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $225K | $245K | +8.9% |
3 Bedrooms | $260K | $255K | -1.9% |
4 Bedrooms | $230K | $284K | +23.5% |
5+ Bedrooms | $290K | $302K | +4.1% |
Summary: Garage Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.9%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 4.1%.
Median Sold Price Compared To Nearby Neighborhoods
New City | $204K | $238K | +16.7% |
Brighton Park | $292K | $310K | +6.2% |
Garage Park | $255K | $269.4K | +5.7% |
Southwest Side | $250K | $260.4K | +4.1% |
Chicago Lawn | $250K | $258K | +3.2% |
Housing Supply in Garage Park, IL
How many homes are available in Garage Park, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
40 | 46 | +15.0% |
Summary: The Garage Park real estate market had 46 homes for sale in April 2024, a 15.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 9 | -25.0% |
3 Bedrooms | 9 | 14 | +55.6% |
4 Bedrooms | 9 | 13 | +44.4% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Garage Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 9 | -10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Garage Park in April 2024, down by 10.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for Garage Park, IL
How long does it take to sell a home in Garage Park, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
66 Days | 26 Days | -59.6% |
Summary: Homes in Garage Park had an average of 26 days on market in Apr 2024, down by 59.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Garage Park; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.