Let’s take a look at how the real estate market in West Chicago, IL has changed over the years. The data below compares July 2013 to July 2024, showing the drastic differences in median sales prices, market time, and housing inventory.
| Metric | July 2013 | July 2024 | % Difference |
|---|---|---|---|
| Median Sales Price | $185,000 | $440,000 | +137.84% |
| Average Market Time | 135 days | 15 days | -88.89% |
| Housing Inventory | 147 homes | 15 homes | -89.80% |
A Look at the Numbers
1. Median Sales Price:
Back in July 2013, the median sales price of a home in West Chicago was $185,000. Fast forward to July 2024, and that price has skyrocketed to $440,000! That’s a massive increase of nearly 138%. This shows how much more valuable homes in the area have become over the past decade.
2. Average Market Time:
In 2013, homes sat on the market for an average of 135 days before they sold. But in July 2024, homes are selling much faster, with an average market time of just 15 days. This is a huge decrease of almost 89%, meaning homes are now flying off the market!
3. Housing Inventory:
The number of homes available for sale has also changed dramatically. In July 2013, there were 147 homes on the market. But in July 2024, there are only 15 homes available. That’s a decrease of nearly 90%, showing how tight the market has become.
What This Means for You
The real estate market in West Chicago, IL, has seen some big changes over the last 11 years. With home prices going up and fewer homes available, now is a great time to consider selling your home. Homes are selling faster than ever, and you could get top dollar for your property.
If you’re curious about what your home is worth in today’s market, don’t wait! Reach out to me, Carrie Little, at 630-405-8995 or visit bit.ly/listwithcarrietheagent for a FREE Market Analysis. Let’s find out how much your home has appreciated and get you the best deal possible!
Wego July 2024 https://mred.stats.10kresearch.com/docs/lmu/x/WestChicago?src=page
Wego July 2013 https://mred.stats.10kresearch.com/docs/lmu/2013-07/x/WestChicago?src=page
Carrie J. Little, BS, MS – Designated Managing Broker of CarMarc Realty Group
