Is La Grange Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing La Grange Park is a seller's market

Buyer's
Market

Difference Since January 2023

Since last year, La Grange Park has remained a Seller's Market.

Key Takeaway

La Grange Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in La Grange Park, IL

How much do homes in La Grange Park, IL cost?

Median Sold Price

$412,000

$278/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$17,950(-4.2%)

Key Takeaway

Homes in La Grange Park have sold for 4.2% less than they did a year ago.

Summary: The median home sold price in La Grange Park was $412,000 in January 2024, down 4.2% from last year, and the median price per square foot was $278.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $110K$550K
+400.0%
2 $266.5K$300K
+12.6%
3 $414.5K$396.4K
-4.4%
4 $605K$716K
+18.3%
5+ $639.9K$745K
+16.4%

Summary: La Grange Park housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 400%, 2 bedroom homes increased by 12.6%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes increased by 16.4%.

Median Sold Price Compared To Nearby Cities

Brookfield
+12.8%
Westchester
+1.4%
Proviso Township
+0.9%
La Grange Park
-4.2%
La Grange
-11.5%

Housing Supply in La Grange Park, IL

How many homes are available in La Grange Park, IL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
3527-22.9%

Summary: The La Grange Park real estate market had 27 homes for sale in January 2024, a 22.9% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 11
0.0%
2 64
-33.3%
3 1712
-29.4%
4 96
-33.3%
5+ 24
+100.0%

Summary: The La Grange Park housing inventory by bedroom type for January 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 decreased by 29.4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
197-63.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in La Grange Park, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in La Grange Park in January 2024, down by 63.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.

Days on Market for La Grange Park, IL

How long does it take to sell a home in La Grange Park, IL?

Average Sale Time

Jan 2023Jan 2024CHANGE
24 Days15 Days-35.3%

Summary: Homes in La Grange Park had an average of 15 days on market in Jan 2024, down by 35.3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in La Grange Park are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 7 homes were sold in La Grange Park; 86% of homes were sold within 30 days, 14% 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 21 Days Ago

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