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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Town is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Old Town, IL

How much do homes in Old Town, IL cost?

Median Sold Price

$690,000

$371/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$75,000(+12.2%)

Key Takeaway

Homes in Old Town have sold for 12.2% more than they did a year ago.

Summary: The median home sold price in Old Town was $690,000 in March 2024, up 12.2% from last year, and the median price per square foot was $371.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $262K$266K
+1.5%
2 $501K$517.5K
+3.3%
3 $776K$905K
+16.6%
4 $1.3M$1.2M
-9.5%
5+ $2.6M$2.2M
-15.1%

Summary: Old Town housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 16.6%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes decreased by 15.1%.

Median Sold Price Compared To Nearby Neighborhoods

Lincoln Park
+14.3%
Old Town
+12.2%
North Side
+5.2%
Gold Coast
-2.6%
Near North Side
-5.2%

Housing Supply in Old Town, IL

How many homes are available in Old Town, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
105134+27.6%

Summary: The Old Town real estate market had 134 homes for sale in March 2024, a 27.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1017
+70.0%
2 3237
+15.6%
3 2733
+22.2%
4 2025
+25.0%
5+ 1622
+37.5%

Summary: The Old Town housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 70%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1924+26.3%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Old Town, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Old Town in March 2024, up by 26.3% month-over-month. Of the 24 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for Old Town, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
35 Days50 Days+45.2%

Summary: Homes in Old Town had an average of 50 days on market in Mar 2024, up by 45.2% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 24 homes were sold in Old Town; 71% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 17% 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 26 Days Ago

Newest Listings in Old Town, IL

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