Is Cook County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cook County is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Cook County has remained a Seller's Market.

Key Takeaway

Cook County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cook County, IL

How much do homes in Cook County, IL cost?

Median Sold Price

$320,267

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$14,090(+4.6%)

Key Takeaway

Homes in Cook County have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Cook County was $320,267 in April 2024, up 4.6% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $188.2K$200K
+6.3%
2 $250.7K$269.8K
+7.6%
3 $320.1K$331.2K
+3.5%
4 $409.1K$427.1K
+4.4%
5+ $450.9K$460.8K
+2.2%

Summary: Cook County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Counties

Kane County
+10.2%
Lake County
+8.3%
Will County
+7.4%
DuPage County
+6.4%
Cook County
+4.6%

Housing Supply in Cook County, IL

How many homes are available in Cook County, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
16,40619,105+16.5%

Summary: The Cook County real estate market had 19,105 homes for sale in April 2024, a 16.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1,3951,619
+16.1%
2 4,1054,761
+16.0%
3 5,7016,574
+15.3%
4 2,8563,386
+18.6%
5+ 2,3492,765
+17.7%

Summary: The Cook County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 17.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3,9904,487+12.5%

Asking Price vs. Sold Price

1,806 Homes Were Sold
Under Asking

755 Homes Were Sold
At Asking

1,925 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cook County, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 4,487 homes were sold or pending in Cook County in April 2024, up by 12.5% month-over-month. Of the 4,486 sold homes, 40% were sold under asking, 17% were sold at asking, and 43% were sold over asking.

Days on Market for Cook County, IL

How long does it take to sell a home in Cook County, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
35 Days29 Days-15.1%

Summary: Homes in Cook County had an average of 29 days on market in Apr 2024, down by 15.1% compared to last year.

Breakdown of Home Sale Times

3,385 Homes Were Sold
Under 30 Days

681 Homes Were Sold
In 30 - 90 Days

421 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cook County are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 4487 homes were sold in Cook County; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 9% 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 11 Days Ago

Newest Listings in Cook County, IL

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