Is Garfield Ridge, 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, Garfield Ridge has remained a Seller's Market.
Housing Prices in Garfield Ridge, IL
How much do homes in Garfield Ridge, IL cost?
Median Sold Price
$315,000
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Garfield Ridge was $315,000 in April 2024, up 2.8% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $94.5K | $119K | +25.9% |
2 Bedrooms | $280K | $270.2K | -3.5% |
3 Bedrooms | $300K | $310K | +3.3% |
4 Bedrooms | $357K | $350K | -2.0% |
5+ Bedrooms | $435K | $450K | +3.4% |
Summary: Garfield Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.9%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Neighborhoods
Archer Heights | $289.4K | $303K | +4.7% |
Garfield Ridge | $306.4K | $315K | +2.8% |
Clearing | $285K | $290K | +1.8% |
West Elsdon | $277K | $275K | -0.7% |
Housing Supply in Garfield Ridge, IL
How many homes are available in Garfield Ridge, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
77 | 91 | +18.2% |
Summary: The Garfield Ridge real estate market had 91 homes for sale in April 2024, a 18.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 50 | 57 | +14.0% |
4 Bedrooms | 9 | 16 | +77.8% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Garfield Ridge 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 12.5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 77.8%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 23 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Garfield Ridge in April 2024, the same as the previous month. Of the 23 sold homes, 39% were sold under asking, 4% were sold at asking, and 57% were sold over asking.
Days on Market for Garfield Ridge, IL
How long does it take to sell a home in Garfield Ridge, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
59 Days | 26 Days | -55.6% |
Summary: Homes in Garfield Ridge had an average of 26 days on market in Apr 2024, down by 55.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in Garfield Ridge; 74% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.