Is Westchester, 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, Westchester has remained a Seller's Market.
Housing Prices in Westchester, IL
How much do homes in Westchester, IL cost?
Median Sold Price
$325,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Westchester was $325,000 in March 2024, up 2.5% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $208.8K | - | N/A |
2 Bedrooms | $283K | $290K | +2.5% |
3 Bedrooms | $332K | $333K | 0.3% |
4 Bedrooms | $382.5K | $379.9K | -0.7% |
5+ Bedrooms | $429.2K | $380K | -11.5% |
Summary: Westchester housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 11.5%.
Median Sold Price Compared To Nearby Cities
Westchester | $316.9K | $325K | +2.5% |
Bellwood | $232.7K | $238K | +2.3% |
Hillside | $250K | $255.2K | +2.1% |
Proviso Township | $285K | $290K | +1.8% |
Broadview | $245K | $248.5K | +1.4% |
Housing Supply in Westchester, IL
How many homes are available in Westchester, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
53 | 61 | +15.1% |
Summary: The Westchester real estate market had 61 homes for sale in March 2024, a 15.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 15 | 23 | +53.3% |
3 Bedrooms | 25 | 27 | +8.0% |
4 Bedrooms | 8 | 7 | -12.5% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Westchester housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 53.3%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 17 | -5.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Westchester in March 2024, down by 5.6% month-over-month. Of the 17 sold homes, 53% were sold under asking, 6% were sold at asking, and 41% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
53 Days | 35 Days | -34.0% |
Summary: Homes in Westchester had an average of 35 days on market in Mar 2024, down by 34% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 17 homes were sold in Westchester; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.