Is Water Tower Place, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Water Tower Place is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Water Tower Place has remained a Buyer's Market.

Key Takeaway

Water Tower Place is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Water Tower Place, IL

How much do homes in Water Tower Place, IL cost?

Median Sold Price

$1,570,000

$565/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

+$250,000(+18.9%)

Key Takeaway

Homes in Water Tower Place have sold for 18.9% more than they did a month ago.

Summary: The median home sold price in Water Tower Place was $1,570,000 in April 2024, up 18.9% from last month, and the median price per square foot was $565.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 --
N/A
3 $1.3M$1.5M
+18.9%
4 --
N/A
5+ --
N/A

Summary: Water Tower Place housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 18.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Water Tower Place, IL

How many homes are available in Water Tower Place, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1618+12.5%

Summary: The Water Tower Place real estate market had 18 homes for sale in April 2024, a 12.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1012
+20.0%
4 43
-25.0%
5+ 11
0.0%

Summary: The Water Tower Place 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 increased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Water Tower Place, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Water Tower Place in April 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Water Tower Place, IL

How long does it take to sell a home in Water Tower Place, IL?

Average Sale Time

Mar 2024Apr 2024CHANGE
57 Days58 Days+1.7%

Summary: Homes in Water Tower Place had an average of 58 days on market in Apr 2024, up by 1.7% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Water Tower Place are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 2 homes were sold in Water Tower Place; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 7 Days Ago

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