DECEMBER 1, 2022ย BYย SOPHIA OJUKWU –ย LEAVE A COMMENT
Hey Chicagoland! We're entering the fall months, and time when things start to slow down just a little! Real Estate last month was steady!
Chicagoland's Real Estate Market Update 2022
This month indicates that Naperville is a fairly balanced market, with advantages to offer to both buyers and sellers. While prices have held steady for close to a year, we'd expect them to start creeping up if the declining inventory trend continues. All of these changes affect home values, including yours.
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In October 2022, Oak Park home prices were down 13.2% compared to last year, selling for a median price of $332K. On average, homes in Oak Park sell after 65 days on the market compared to 43 days last year. There were 56 homes sold in October this year, down from 69 last year.
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In October 2022, Maywood home prices were down 18.5% compared to last year, selling for a median price of $585K. On average, homes in Maywood sell after 75 days on the market compared to 42 days last year. There were 4 homes sold in October this year, down from 5 last year.
All of these changes affect home values, including yours. If you want to know the new value of your home, just shoot me a quick message with your address!
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