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 May 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

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$7,500(-2.1%)

Key Takeaway

Homes in Westmont have sold for 2.1% less than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $112K$127.5K
+13.8%
2 $248.9K$260K
+4.4%
3 $350K$369K
+5.4%
4 $638.5K$490K
-23.3%
5+ $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
+17.2%
Downers Grove
+6.4%
Clarendon Hills
+4.3%
Willowbrook
+3.5%
Westmont
-2.1%

Housing Supply in Westmont, IL

How many homes are available in Westmont, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5969+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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1926
+36.8%
3 2227
+22.7%
4 1514
-6.7%
5+ 32
-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 2024May 2024CHANGE
1918-5.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmont, you could pay more than the asking price. 50% of homes here sold above asking price last month.

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 2023May 2024CHANGE
15 Days7 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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