Is Western Springs, 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, Western Springs has remained a Seller's Market.
Housing Prices in Western Springs, IL
How much do homes in Western Springs, IL cost?
Median Sold Price
$693,414
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Western Springs was $693,414 in March 2024, down 1.7% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $301K | - | N/A |
2 Bedrooms | $496K | $561K | +13.1% |
3 Bedrooms | $550K | $582K | +5.8% |
4 Bedrooms | $825K | $800K | -3.0% |
5+ Bedrooms | $1.1M | $1.2M | +7.2% |
Summary: Western Springs 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 13.1%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
Hinsdale | $999.4K | $1.1M | +16.6% |
Indian Head Park | $320K | $350.4K | +9.5% |
Lyons Township | $378.3K | $384.2K | +1.6% |
Western Springs | $705.5K | $693.4K | -1.7% |
La Grange | $549K | $530.3K | -3.4% |
Housing Supply in Western Springs, IL
How many homes are available in Western Springs, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 62 | +8.8% |
Summary: The Western Springs real estate market had 62 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 7 | -30.0% |
3 Bedrooms | 21 | 31 | +47.6% |
4 Bedrooms | 13 | 11 | -15.4% |
5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The Western Springs 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 decreased by 30%, 3 bedroom homes increased by 47.6%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 15 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Western Springs in March 2024, up by 50.0% month-over-month. Of the 15 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% were sold over asking.
Days on Market for Western Springs, IL
How long does it take to sell a home in Western Springs, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 17 Days | -47.0% |
Summary: Homes in Western Springs had an average of 17 days on market in Mar 2024, down by 47% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in Western Springs; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.