Is Lower West Side / Pilsen, 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, Lower West Side / Pilsen has remained a Seller's Market.
Housing Prices in Lower West Side / Pilsen, IL
How much do homes in Lower West Side / Pilsen, IL cost?
Median Sold Price
$431,000
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lower West Side / Pilsen was $431,000 in April 2024, down 4.8% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $245K | $294.5K | +20.2% |
2 Bedrooms | $345K | $348.5K | +1.0% |
3 Bedrooms | $517.5K | $431K | -16.7% |
4 Bedrooms | $422.5K | $440K | +4.1% |
5+ Bedrooms | $525K | $500K | -4.8% |
Summary: Lower West Side / Pilsen housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.2%, 2 bedroom homes increased by 1%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Neighborhoods
Little Italy / University Village | $335K | $365K | +9.0% |
Bridgeport | $455K | $465K | +2.2% |
Lower West Side / Pilsen | $452.5K | $431K | -4.8% |
McKinley Park | $342.5K | $302.5K | -11.7% |
Housing Supply in Lower West Side / Pilsen, IL
How many homes are available in Lower West Side / Pilsen, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
47 | 67 | +42.6% |
Summary: The Lower West Side / Pilsen real estate market had 67 homes for sale in April 2024, a 42.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 8 | 13 | +62.5% |
3 Bedrooms | 7 | 12 | +71.4% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 25 | 31 | +24.0% |
Summary: The Lower West Side / Pilsen 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 62.5%, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 24%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 13 | +160.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Lower West Side / Pilsen in April 2024, up by 160.0% month-over-month. Of the 13 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market for Lower West Side / Pilsen, IL
How long does it take to sell a home in Lower West Side / Pilsen, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 19 Days | -60.2% |
Summary: Homes in Lower West Side / Pilsen had an average of 19 days on market in Apr 2024, down by 60.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Lower West Side / Pilsen; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.