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 December 2021

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.

How much do homes in Westmont, IL cost?

Median Sold Price

$340,333

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$28,805(+9.2%)

Key Takeaway

Homes in Westmont have sold for 9.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $105K$100K
-4.8%
2 $239K$246K
+2.9%
3 $325K$360K
+10.8%
4 $510.4K$580K
+13.6%
5+ $552.5K$656.5K
+18.8%

Median Sold Price Compared To Nearby Cities

Westmont
+9.2%
Hinsdale
+7.3%
Downers Grove
+5.8%
Clarendon Hills
-2.6%
Willowbrook
-13.5%

How many homes are available in Westmont, IL?

Number of Homes For Sale

Nov 2022Dec 2022%
7772-6.5%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 22
0.0%
2 1921
+10.5%
3 2924
-17.2%
4 2119
-9.5%
5+ 66
0.0%

Number of Homes Sold

Nov 2022Dec 2022%
1315+15.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 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. 53.3% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
56 Days22 Days-60.8%

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Westmont, IL

Homes for sale in Westmont, IL have reached 72. The inventory of homes for sale in Westmont, IL between November 2022 and December 2022 decreased by 6.5%. While the average time on the market in December 2022 was 22 days, the median list price was $340,333. Real estate listing prices changed between November 2022 and December 2022: the cost of 1 bedroom properties went down by 4.8%, the cost of 2 bedrooms properties went up by 2.9%, prices of 3 bedrooms properties increased by 10.8%, prices of 4 bedrooms properties increased by 13.6%, 5 bedrooms properties prices increased by 18.8%. This housing market inventory have changed: number of 1 bedroom homes remained the same, number of 2 bedrooms homes increased by 10.5%, 3 bedrooms homes became 17.2% less available, volume of 4 bedrooms homes went down by 9.5%, volume of 5 bedrooms homes stayed the same. Westmont, IL housing market in December 2022 saw over 3 listings sold above listed price, more than 4 sold at listed price and over 8 sold below.

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