Is Westchester, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westchester is a seller's market

Buyer's
Market

Difference Since July 2021

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

Key Takeaway

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

How much do homes in Westchester, IL cost?

Median Sold Price

$305,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$31,000(+11.3%)

Key Takeaway

Homes in Westchester have sold for 11.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 -$208.8K
N/A
2 $240K$280K
+16.7%
3 $286.7K$320K
+11.6%
4 $355K$332.5K
-6.3%
5+ $380K$445K
+17.1%

Median Sold Price Compared To Nearby Cities

Broadview
+12.8%
Westchester
+11.3%
La Grange Park
+10.1%
Proviso Township
+8.4%
Hillside
+4.7%

How many homes are available in Westchester, IL?

Number of Homes For Sale

Jun 2022Jul 2022%
106121+14.2%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 00
0.0%
2 4139
-4.9%
3 5165
+27.5%
4 811
+37.5%
5+ 66
0.0%

Number of Homes Sold

Jun 2022Jul 2022%
3331-6.1%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westchester, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
21 Days13 Days-38.3%

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westchester 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 Westchester, IL

There are 121 homes are for sale in Westchester, IL real estate market. In July 2022 in Westchester, IL there were 14.2% more homes for sale than in June 2022. The median list price of listings available in July 2022 was $305,000, while the average time on the real estate market was 13 days. Real estate listing prices changed between June 2022 and July 2022: prices of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties went up by 16.7%, prices of 3 bedrooms properties increased by 11.6%, prices of 4 bedrooms properties went down by 6.3%, 5 bedrooms properties prices increased by 17.1%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, number of 2 bedrooms homes decreased by 4.9%, 3 bedrooms homes became 27.5% more available, number of 4 bedrooms homes increased by 37.5%, volume of 5 bedrooms homes stayed the same. Westchester, IL housing market in July 2022 saw over 14 listings sold above listed price, more than 8 sold at listed price and over 9 sold below.

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