Is University Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, University Park has remained a Seller's Market.
Key Takeaway
University Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in University Park, IL
How much do homes in University Park, IL cost?
Median Sold Price
$175,000
$96/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in University Park has remained the same since last year.
Summary: The median home sold price in University Park was $175,000 in April 2024, the same as last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55.5K | - | N/A |
| 2 Bedrooms | $67.5K | $76.4K | +13.2% |
| 3 Bedrooms | $172K | $168K | -2.3% |
| 4 Bedrooms | $230K | $240K | +4.3% |
| 5+ Bedrooms | $277K | $265K | -4.3% |
Summary: University Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.2%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Monee | $289.9K | $299.9K | +3.5% |
| Richton Park | $184K | $190.2K | +3.4% |
| Park Forest | $140.1K | $140.5K | 0.3% |
| University Park | $175K | $175K | 0.0% |
| Monee Township | $220K | $209K | -5.0% |
Housing Supply in University Park, IL
How many homes are available in University Park, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 37 | +8.8% |
Summary: The University Park real estate market had 37 homes for sale in April 2024, a 8.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The University Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 31.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in University Park, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in University Park in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% were sold over asking.
Days on Market for University Park, IL
How long does it take to sell a home in University Park, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 63 Days | 25 Days | -60.4% |
Summary: Homes in University Park had an average of 25 days on market in Apr 2024, down by 60.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in University Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in University Park; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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