Is West Ridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, West Ridge has remained a Seller's Market.
Housing Prices in West Ridge, IL
How much do homes in West Ridge, IL cost?
Median Sold Price
$239,300
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Ridge was $239,300 in April 2024, up 12.8% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $127.7K | +11.1% |
2 Bedrooms | $165K | $178.5K | +8.2% |
3 Bedrooms | $305K | $360K | +18.0% |
4 Bedrooms | $492.5K | $516.2K | +4.8% |
5+ Bedrooms | $610K | $630K | +3.3% |
Summary: West Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 3.3%.
Housing Supply in West Ridge, IL
How many homes are available in West Ridge, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
135 | 156 | +15.6% |
Summary: The West Ridge real estate market had 156 homes for sale in April 2024, a 15.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 13 | +18.2% |
2 Bedrooms | 57 | 65 | +14.0% |
3 Bedrooms | 38 | 46 | +21.1% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 17 | 17 | 0.0% |
Summary: The West Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
40 | 34 | -15.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in West Ridge in April 2024, down by 15.0% month-over-month. Of the 34 sold homes, 47% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for West Ridge, IL
How long does it take to sell a home in West Ridge, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 25 Days | -24.7% |
Summary: Homes in West Ridge had an average of 25 days on market in Apr 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 34 homes were sold in West Ridge; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.