Is Westmont, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Westmont has remained a Seller's Market.
Housing Prices in Westmont, IL
How much do homes in Westmont, IL cost?
Median Sold Price
$345,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Westmont was $345,000 in May 2024, down 2.1% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112K | $127.5K | +13.8% |
2 Bedrooms | $248.9K | $260K | +4.4% |
3 Bedrooms | $350K | $369K | +5.4% |
4 Bedrooms | $638.5K | $490K | -23.3% |
5+ Bedrooms | $743.5K | $481.6K | -35.2% |
Summary: Westmont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 23.3%, and 5+ bedroom homes decreased by 35.2%.
Median Sold Price Compared To Nearby Cities
Hinsdale | $999.7K | $1.1M | +17.2% |
Downers Grove | $410K | $436.3K | +6.4% |
Clarendon Hills | $575K | $599.9K | +4.3% |
Willowbrook | $274.4K | $284K | +3.5% |
Westmont | $352.5K | $345K | -2.1% |
Housing Supply in Westmont, IL
How many homes are available in Westmont, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 69 | +16.9% |
Summary: The Westmont real estate market had 69 homes for sale in May 2024, a 16.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 19 | 26 | +36.8% |
3 Bedrooms | 22 | 27 | +22.7% |
4 Bedrooms | 15 | 14 | -6.7% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Westmont housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.8%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 18 | -5.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Westmont in May 2024, down by 5.3% month-over-month. Of the 18 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 7 Days | -51.3% |
Summary: Homes in Westmont had an average of 7 days on market in May 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 18 homes were sold in Westmont; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.