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 June 2023

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.

Housing Prices in Westchester, IL

How much do homes in Westchester, IL cost?

Median Sold Price

$343,000

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$28,000(+8.9%)

Key Takeaway

Homes in Westchester have sold for 8.9% more than they did a year ago.

Summary: The median home sold price in Westchester was $343,000 in June 2024, up 8.9% from last year, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 -$259K
N/A
2 $284K$305.5K
+7.6%
3 $325K$356K
+9.5%
4 $379.9K$380K
0.0%
5+ $426.7K$427.5K
0.2%

Summary: Westchester housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 9.5%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 0.2%.

Median Sold Price Compared To Nearby Cities

Westchester
+8.9%
Broadview
+7.3%
Proviso Township
+5.9%
Hillside
+3.2%
Bellwood
0.0%

Housing Supply in Westchester, IL

How many homes are available in Westchester, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
6762-7.5%

Summary: The Westchester real estate market had 62 homes for sale in June 2024, a 7.5% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 11
0.0%
2 2420
-16.7%
3 3131
0.0%
4 87
-12.5%
5+ 33
0.0%

Summary: The Westchester housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
2913-55.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 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. 46.2% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Westchester in June 2024, down by 55.2% month-over-month. Of the 13 sold homes, 15% were sold under asking, 38% were sold at asking, and 46% were sold over asking.

Days on Market for Westchester, IL

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

Average Sale Time

Jun 2023Jun 2024CHANGE
24 Days17 Days-31.7%

Summary: Homes in Westchester had an average of 17 days on market in Jun 2024, down by 31.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

Summary: During June 2024, 13 homes were sold in Westchester; 92% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% 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 26 Days Ago

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