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 April 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

$345,000

$214/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 Westmont has remained the same since last year.

Summary: The median home sold price in Westmont was $345,000 in April 2024, the same as last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $106K$126K
+18.9%
2 $246K$255K
+3.7%
3 $355.5K$365K
+2.7%
4 $610K$490K
-19.7%
5+ $660K$517.1K
-21.7%

Summary: Westmont housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 19.7%, and 5+ bedroom homes decreased by 21.7%.

Median Sold Price Compared To Nearby Cities

Hinsdale
+22.8%
Willowbrook
+13.2%
Downers Grove
+5.6%
Westmont
0.0%
Clarendon Hills
-0.9%

Housing Supply in Westmont, IL

How many homes are available in Westmont, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6267+8.1%

Summary: The Westmont real estate market had 67 homes for sale in April 2024, a 8.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1721
+23.5%
3 2526
+4.0%
4 1717
0.0%
5+ 33
0.0%

Summary: The Westmont 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 increased by 23.5%, 3 bedroom homes increased by 4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2519-24.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 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. 57.9% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Westmont in April 2024, down by 24.0% month-over-month. Of the 19 sold homes, 32% were sold under asking, 11% were sold at asking, and 58% 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

Apr 2023Apr 2024CHANGE
23 Days25 Days+8.0%

Summary: Homes in Westmont had an average of 25 days on market in Apr 2024, up by 8% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 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 April 2024, 19 homes were sold in Westmont; 84% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 11% 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 2 Days Ago

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