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 January 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

$340,000

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$333(-0.1%)

Key Takeaway

The sold price of homes in Westmont has remained the same since last year.

Summary: The median home sold price in Westmont was $340,000 in January 2024, down 0.1% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $106K$124K
+17.0%
2 $246K$250K
+1.6%
3 $359.9K$359K
-0.3%
4 $585K$469.2K
-19.8%
5+ $653K$517.1K
-20.8%

Summary: Westmont housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 19.8%, and 5+ bedroom homes decreased by 20.8%.

Median Sold Price Compared To Nearby Cities

Hinsdale
+6.4%
Willowbrook
+5.0%
Downers Grove
+2.4%
Westmont
-0.1%
Clarendon Hills
-10.9%

Housing Supply in Westmont, IL

How many homes are available in Westmont, IL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
4541-8.9%

Summary: The Westmont real estate market had 41 homes for sale in January 2024, a 8.9% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 1314
+7.7%
3 1614
-12.5%
4 1210
-16.7%
5+ 43
-25.0%

Summary: The Westmont housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
1710-41.2%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 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. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Westmont in January 2024, down by 41.2% month-over-month. Of the 10 sold homes, 70% were sold under asking, 0% were sold at asking, and 30% 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

Jan 2023Jan 2024CHANGE
44 Days28 Days-36.0%

Summary: Homes in Westmont had an average of 28 days on market in Jan 2024, down by 36% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was 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 January 2024, 10 homes were sold in Westmont; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% 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 29 Days Ago

Newest Listings in Westmont, IL

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