Is Northwest Side, 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, Northwest Side has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $141K | +0.7% |
2 Bedrooms | $251.5K | $265.2K | +5.5% |
3 Bedrooms | $369.1K | $377.8K | +2.4% |
4 Bedrooms | $415K | $436.9K | +5.3% |
5+ Bedrooms | $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 2024 | Apr 2024 | CHANGE |
---|---|---|
511 | 593 | +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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 16 | -5.9% |
2 Bedrooms | 91 | 113 | +24.2% |
3 Bedrooms | 168 | 206 | +22.6% |
4 Bedrooms | 134 | 140 | +4.5% |
5+ Bedrooms | 101 | 118 | +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 2024 | Apr 2024 | CHANGE |
---|---|---|
131 | 159 | +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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 26 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
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.