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 2023

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.

Housing Prices in West Chicago, IL

How much do homes in West Chicago, IL cost?

Median Sold Price

$386,500

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$36,600(+10.5%)

Key Takeaway

Homes in West Chicago have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in West Chicago was $386,500 in November 2024, up 10.5% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $134.9K$130K
-3.7%
2 $241.2K$265K
+9.8%
3 $329.7K$350K
+6.1%
4 $442.5K$515K
+16.4%
5+ $485K$507.5K
+4.6%

Summary: West Chicago housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 4.6%.

Median Sold Price Compared To Nearby Cities

Wayne Township
+13.5%
West Chicago
+10.5%
Geneva Township
+4.3%
Winfield Township
+1.7%
Wayne
-2.7%

Housing Supply in West Chicago, IL

How many homes are available in West Chicago, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5859+1.7%

Summary: The West Chicago real estate market had 59 homes for sale in November 2024, a 1.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 35
+66.7%
3 2723
-14.8%
4 1923
+21.1%
5+ 65
-16.7%

Summary: The West Chicago housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1613-18.8%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was 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. 61.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in West Chicago in November 2024, down by 18.8% month-over-month. Of the 13 sold homes, 62% were sold under asking, 31% were sold at asking, and 8% were sold over asking.

Days on Market for West Chicago, IL

How long does it take to sell a home in West Chicago, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
28 Days18 Days-36.3%

Summary: Homes in West Chicago had an average of 18 days on market in Nov 2024, down by 36.3% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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.

Summary: During November 2024, 13 homes were sold in West Chicago; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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 3 Days Ago

Newest Listings in West Chicago, IL

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