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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McKinley Park is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, McKinley Park was a Seller's Market.

Key Takeaway

McKinley Park is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in McKinley Park, IL

How much do homes in McKinley Park, IL cost?

Median Sold Price

$302,500

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$40,000(-11.7%)

Key Takeaway

Homes in McKinley Park have sold for 11.7% less than they did a year ago.

Summary: The median home sold price in McKinley Park was $302,500 in April 2024, down 11.7% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$183K
N/A
2 $266K$210K
-21.1%
3 $355K$284K
-20.0%
4 $350K$366.5K
+4.7%
5+ $373K$355K
-4.8%

Summary: McKinley 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 decreased by 21.1%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 4.8%.

Median Sold Price Compared To Nearby Neighborhoods

New City
+16.7%
Southwest Side
+4.1%
Bridgeport
+2.2%
Lower West Side / Pilsen
-4.8%
McKinley Park
-11.7%

Housing Supply in McKinley Park, IL

How many homes are available in McKinley Park, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2527+8.0%

Summary: The McKinley Park real estate market had 27 homes for sale in April 2024, a 8.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 1010
0.0%
4 45
+25.0%
5+ 911
+22.2%

Summary: The McKinley 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
64-33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McKinley Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in McKinley Park in April 2024, down by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for McKinley Park, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
112 Days49 Days-56.3%

Summary: Homes in McKinley Park had an average of 49 days on market in Apr 2024, down by 56.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 4 homes were sold in McKinley Park; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 16 Days Ago

Newest Listings in McKinley Park, IL

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