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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westmont is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Westmont, IL

How much do homes in Westmont, IL cost?

Median Sold Price

$347,000

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$6,875(+2.0%)

Key Takeaway

Homes in Westmont have sold for 2% more than they did a year ago.

Summary: The median home sold price in Westmont was $347,000 in March 2024, up 2% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $100K$126K
+26.0%
2 $245.2K$254.5K
+3.8%
3 $360K$361.2K
0.3%
4 $610K$489K
-19.8%
5+ $656.5K$517.1K
-21.2%

Summary: Westmont housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 19.8%, and 5+ bedroom homes decreased by 21.2%.

Median Sold Price Compared To Nearby Cities

Hinsdale
+16.6%
Willowbrook
+16.3%
Clarendon Hills
+4.2%
Downers Grove
+4.1%
Westmont
+2.0%

Housing Supply in Westmont, IL

How many homes are available in Westmont, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4263+50.0%

Summary: The Westmont real estate market had 63 homes for sale in March 2024, a 50.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 10
-100.0%
2 1217
+41.7%
3 1928
+47.4%
4 916
+77.8%
5+ 12
+100.0%

Summary: The Westmont housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 47.4%, 4 bedroom homes increased by 77.8%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1021+110.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmont, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in Westmont in March 2024, up by 110.0% month-over-month. Of the 21 sold homes, 29% were sold under asking, 19% were sold at asking, and 52% were sold over asking.

Days on Market for Westmont, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
43 Days35 Days-20.0%

Summary: Homes in Westmont had an average of 35 days on market in Mar 2024, down by 20% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westmont are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 21 homes were sold in Westmont; 67% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 14% 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 18 Days Ago

Newest Listings in Westmont, IL

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