Is Northwest Side, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northwest Side is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Northwest Side has remained a Seller's Market.

Key Takeaway

Northwest Side is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Northwest Side, IL

How much do homes in Northwest Side, IL cost?

Median Sold Price

$379,830

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$13,568(+3.7%)

Key Takeaway

Homes in Northwest Side have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in Northwest Side was $379,830 in April 2024, up 3.7% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $140K$141K
+0.7%
2 $251.5K$265.2K
+5.5%
3 $369.1K$377.8K
+2.4%
4 $415K$436.9K
+5.3%
5+ $475K$505K
+6.3%

Summary: Northwest Side housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 6.3%.

Housing Supply in Northwest Side, IL

How many homes are available in Northwest Side, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
511593+16.0%

Summary: The Northwest Side real estate market had 593 homes for sale in April 2024, a 16.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1716
-5.9%
2 91113
+24.2%
3 168206
+22.6%
4 134140
+4.5%
5+ 101118
+16.8%

Summary: The Northwest Side housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes increased by 24.2%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 16.8%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
131159+21.4%

Asking Price vs. Sold Price

53 Homes Were Sold
Under Asking

28 Homes Were Sold
At Asking

78 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northwest Side, you could pay more than the asking price. 49.1% of homes here sold above asking price last month.

Summary: A total of 159 homes were sold or pending in Northwest Side in April 2024, up by 21.4% month-over-month. Of the 159 sold homes, 33% were sold under asking, 18% were sold at asking, and 49% were sold over asking.

Days on Market for Northwest Side, IL

How long does it take to sell a home in Northwest Side, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
30 Days26 Days-12.1%

Summary: Homes in Northwest Side had an average of 26 days on market in Apr 2024, down by 12.1% compared to last year.

Breakdown of Home Sale Times

128 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 159 homes were sold in Northwest Side; 81% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% 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 4 Days Ago

Newest Listings in Northwest Side, IL

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