Is University Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, University Park has remained a Seller's Market.
Housing Prices in University Park, IL
How much do homes in University Park, IL cost?
Median Sold Price
$181,000
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in University Park was $181,000 in June 2024, up 4.9% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $55.5K | - | N/A |
2 Bedrooms | $71K | $76.7K | +8.0% |
3 Bedrooms | $168K | $168K | 0.0% |
4 Bedrooms | $222.9K | $235K | +5.4% |
5+ Bedrooms | $286K | $282.4K | -1.2% |
Summary: University Park housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8%, 3 bedroom homes did not change, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 1.2%.
Median Sold Price Compared To Nearby Cities
Monee Township | $209.2K | $230K | +9.9% |
Monee | $275K | $300K | +9.1% |
Richton Park | $179K | $194.9K | +8.9% |
University Park | $172.5K | $181K | +4.9% |
Park Forest | $140.2K | $142.8K | +1.9% |
Housing Supply in University Park, IL
How many homes are available in University Park, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
36 | 35 | -2.8% |
Summary: The University Park real estate market had 35 homes for sale in June 2024, a 2.8% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 3 | -40.0% |
3 Bedrooms | 17 | 18 | +5.9% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The University Park housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in University Park in June 2024, down by 22.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for University Park, IL
How long does it take to sell a home in University Park, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
47 Days | 41 Days | -13.5% |
Summary: Homes in University Park had an average of 41 days on market in Jun 2024, down by 13.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 7 homes were sold in University Park; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.