Is West Chicago, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Chicago is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, West Chicago has remained a Seller's Market.

Key Takeaway

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

How much do homes in West Chicago, IL cost?

Median Sold Price

$300,000

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$5,000(+1.7%)

Key Takeaway

Homes in West Chicago have sold for 1.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $82.5K$95K
+15.2%
2 $196.2K$223.5K
+13.9%
3 $256K$276.7K
+8.1%
4 $410K$407.5K
-0.6%
5+ $432.4K$489K
+13.1%

Median Sold Price Compared To Nearby Cities

Wayne
+11.9%
Geneva Township
+8.3%
Winfield Township
+6.7%
Wayne Township
+6.3%
West Chicago
+1.7%

How many homes are available in West Chicago, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
5148-5.9%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 32
-33.3%
2 46
+50.0%
3 1114
+27.3%
4 2821
-25.0%
5+ 55
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
1213+8.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Chicago, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
25 Days19 Days-21.4%

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 West Chicago are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About West Chicago, IL

Homes for sale in West Chicago, IL have reached 48. The inventory of homes for sale in West Chicago, IL between October 2022 and November 2022 decreased by 5.9%. In November 2022 median list price was $300,000 and the average listing age was 19 days. Listing prices have changed in this real estate market between October 2022 and November 2022: 1 bedroom properties prices increased by 15.2%, prices of 2 bedrooms properties increased by 13.9%, 3 bedrooms properties prices increased by 8.1%, prices of 4 bedrooms properties went down by 0.6%, prices of 5 bedrooms properties went up by 13.1%. This housing market inventory have changed: 1 bedroom homes inventory decreased by 33.3%, the quantity of 2 bedrooms homes went up by 50%, 3 bedrooms homes became 27.3% more available, 4 bedrooms homes became 25% less available, the quantity of 5 bedrooms homes have not changed. While more than 5 listings in West Chicago, IL in November 2022 were sold above asking price, there were more than 1 listings sold at asking price, and more than 7 were sold below.

Related Housing Market Reports