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 June 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

$348,944

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$6,944(+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 $348,944 in June 2024, up 2% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $112K$129K
+15.2%
2 $250K$260K
+4.0%
3 $347.5K$370K
+6.5%
4 $615K$529K
-14.0%
5+ $750K$435K
-42.0%

Summary: Westmont housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes decreased by 42%.

Median Sold Price Compared To Nearby Cities

Hinsdale
+33.0%
Clarendon Hills
+8.9%
Downers Grove
+7.4%
Willowbrook
+7.3%
Westmont
+2.0%

Housing Supply in Westmont, IL

How many homes are available in Westmont, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
6777+14.9%

Summary: The Westmont real estate market had 77 homes for sale in June 2024, a 14.9% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 01
+100.0%
2 2423
-4.2%
3 2731
+14.8%
4 1419
+35.7%
5+ 23
+50.0%

Summary: The Westmont housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

May 2024Jun 2024CHANGE
1825+38.9%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmont, you may be able to get a good deal. 44% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Westmont in June 2024, up by 38.9% month-over-month. Of the 25 sold homes, 44% were sold under asking, 16% were sold at asking, and 40% 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

Jun 2023Jun 2024CHANGE
12 Days12 Days-1.8%

Summary: Homes in Westmont had an average of 12 days on market in Jun 2024, down by 1.8% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 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 June 2024, 25 homes were sold in Westmont; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in Westmont, IL

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