Is West Chicago, 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, West Chicago has remained a Seller's Market.
Housing Prices in West Chicago, IL
How much do homes in West Chicago, IL cost?
Median Sold Price
$351,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West Chicago was $351,000 in March 2024, up 15.1% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $169.9K | +78.8% |
2 Bedrooms | $220K | $245K | +11.4% |
3 Bedrooms | $280K | $337K | +20.4% |
4 Bedrooms | $420K | $455K | +8.3% |
5+ Bedrooms | $489.9K | $503.5K | +2.8% |
Summary: West Chicago housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 78.8%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
West Chicago | $305K | $351K | +15.1% |
Geneva Township | $408.3K | $450K | +10.2% |
Winfield Township | $311.7K | $341K | +9.4% |
Wayne Township | $345K | $370K | +7.2% |
Housing Supply in West Chicago, IL
How many homes are available in West Chicago, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 48 | +17.1% |
Summary: The West Chicago real estate market had 48 homes for sale in March 2024, a 17.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 4 | 8 | +100.0% |
3 Bedrooms | 12 | 16 | +33.3% |
4 Bedrooms | 20 | 18 | -10.0% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The West Chicago housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 16 | +77.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in West Chicago in March 2024, up by 77.8% month-over-month. Of the 16 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 17 Days | -4.7% |
Summary: Homes in West Chicago had an average of 17 days on market in Mar 2024, down by 4.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in West Chicago; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.