Is Portage Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Portage Park has remained a Seller's Market.
Housing Prices in Portage Park, IL
How much do homes in Portage Park, IL cost?
Median Sold Price
$399,090
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Portage Park was $399,090 in March 2024, down 0.2% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130.8K | $148K | +13.1% |
2 Bedrooms | $232.5K | $275K | +18.3% |
3 Bedrooms | $380K | $382.9K | +0.8% |
4 Bedrooms | $430K | $419K | -2.6% |
5+ Bedrooms | $506K | $495K | -2.2% |
Summary: Portage Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 2.2%.
Housing Supply in Portage Park, IL
How many homes are available in Portage Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
114 | 124 | +8.8% |
Summary: The Portage Park real estate market had 124 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 13 | 20 | +53.8% |
3 Bedrooms | 22 | 33 | +50.0% |
4 Bedrooms | 44 | 42 | -4.5% |
5+ Bedrooms | 31 | 26 | -16.1% |
Summary: The Portage Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 53.8%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 16.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 31 | -16.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Portage Park in March 2024, down by 16.2% month-over-month. Of the 31 sold homes, 48% were sold under asking, 6% were sold at asking, and 45% were sold over asking.
Days on Market for Portage Park, IL
How long does it take to sell a home in Portage Park, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 25 Days | -43.3% |
Summary: Homes in Portage Park had an average of 25 days on market in Mar 2024, down by 43.3% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in Portage Park; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.