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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Irving Park is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Old Irving Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Old Irving Park, IL

How much do homes in Old Irving Park, IL cost?

Median Sold Price

$396,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$102,000(-20.5%)

Key Takeaway

Homes in Old Irving Park have sold for 20.5% less than they did a year ago.

Summary: The median home sold price in Old Irving Park was $396,000 in April 2024, down 20.5% from last year, and the median price per square foot was $220.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $144.5K$165K
+14.2%
2 $180K$199K
+10.6%
3 $580K$405K
-30.2%
4 $619K$735K
+18.7%
5+ $775K$720K
-7.1%

Summary: Old Irving Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.2%, 2 bedroom homes increased by 10.6%, 3 bedroom homes decreased by 30.2%, 4 bedroom homes increased by 18.7%, and 5+ bedroom homes decreased by 7.1%.

Median Sold Price Compared To Nearby Neighborhoods

Northwest Side
+3.7%
Irving Park
+1.3%
Albany Park
-1.4%
Old Irving Park
-20.5%

Housing Supply in Old Irving Park, IL

How many homes are available in Old Irving Park, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3641+13.9%

Summary: The Old Irving Park real estate market had 41 homes for sale in April 2024, a 13.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 66
0.0%
3 1418
+28.6%
4 67
+16.7%
5+ 77
0.0%

Summary: The Old Irving 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 remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
713+85.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Old Irving Park, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Old Irving Park in April 2024, up by 85.7% month-over-month. Of the 13 sold homes, 23% were sold under asking, 15% were sold at asking, and 62% were sold over asking.

Days on Market for Old Irving Park, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
23 Days26 Days+11.3%

Summary: Homes in Old Irving Park had an average of 26 days on market in Apr 2024, up by 11.3% compared to last year.

Breakdown of Home Sale Times

11 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 Old Irving Park are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 13 homes were sold in Old Irving Park; 85% of homes were sold within 30 days, 8% 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 1 Day Ago

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