No hype, just real estate market statistics to help you understand the current real estate conditions

Every week, I perform a thorough analysis of the statistics for the residential real estate market in the near western suburbs of Chicago. Specifically, I review Burr Ridge, Clarendon Hills, Downers Grove, Elmhurst, Hinsdale, La Grange and Western Springs. This week I will report on Western Springs IL.

In all of Western Springs, there are 143 detached homes on the market at this time, per MLS sources. These houses have an average marketing time of 225 days. Of these 143 homes, 27 are under contract. That’s about 19%.

Over the past 30 days, there have been 13 newly accepted contracts in the same segment of the market. Last year, over the same period, there had been 19 newly accepted contracts.

The average asking price for a detached hoe in Western Springs is $844,787.

While foreclosure activity has risen, it’s impact on the market has been overstated. Click here to read a recent article in The Doings newspaper.

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