Is Garfield Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Garfield Park was a Seller's Market.
Housing Prices in Garfield Park, IL
How much do homes in Garfield Park, IL cost?
Median Sold Price
$273,500
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Garfield Park was $273,500 in April 2024, up 14% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $25K | - | N/A |
2 Bedrooms | $133.9K | $173.5K | +29.5% |
3 Bedrooms | $217K | $215K | -0.9% |
4 Bedrooms | $255K | $249K | -2.4% |
5+ Bedrooms | $262.5K | $348.5K | +32.8% |
Summary: Garfield 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 29.5%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 32.8%.
Housing Supply in Garfield Park, IL
How many homes are available in Garfield Park, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
110 | 132 | +20.0% |
Summary: The Garfield Park real estate market had 132 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 6 | 8 | +33.3% |
3 Bedrooms | 28 | 30 | +7.1% |
4 Bedrooms | 13 | 18 | +38.5% |
5+ Bedrooms | 63 | 75 | +19.0% |
Summary: The Garfield Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 19%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 19 | +26.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Garfield Park in April 2024, up by 26.7% month-over-month. Of the 19 sold homes, 53% were sold under asking, 16% were sold at asking, and 32% were sold over asking.
Days on Market for Garfield Park, IL
How long does it take to sell a home in Garfield Park, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
41 Days | 45 Days | +10.9% |
Summary: Homes in Garfield Park had an average of 45 days on market in Apr 2024, up by 10.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Garfield Park; 68% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.