West Chicago, IL Market Snapshot

West Chicago, IL

Single Family Homes Sales, Prices and Inventory

Each data point is 12 months of activity.

Number of Home Sales

The total number of single family home sales in the Village of West Chicago has been both fast-paced and relatively steady over the past several years. The slight decline in the number of sales over the past year is largely due to a lack of inventory rather than a general softening of buyer demand.  

Average Sales Price

In West Chicago over the past year, the average sales price of about $285,000 stayed the same as the previous year, making West Chicago one of the more affordable towns in the western suburbs. Lower-priced homes sold for an average of about $218,000 in the past year, while the price of homes in the middle range of $300,000 to $500,000 dropped by about 4%.

Average Market Time

Market time is the number of days that a house was on the market when it went under contract. Over the past year, homes priced below $500,00 went under contract in an average of about 80 days, while homes priced over $500,000 were on the market an average of about 160 days before selling. 

Average Months Supply

In West Chicago, the monthly inventory of single family homes for sale averaged about 2 months for homes priced under $300,000, about 4 months for homes in the middle price range, and about 8 months for homes priced over $500,000. 

Under 4 months of supply indicates a seller's market with more active buyers than there are homes for sale, so sellers have the upper hand in pricing and negotiating. More than 7 months of supply shows a buyer's market with more homes for sale than active buyers, so buyers can expect to negotiate for more favorable deals. A balanced market with 4 to 6 months of inventory generally has steady sales and prices. 

Have Questions?

Ask away. We'll get you over the answer as soon as humanly possible