Quantcast

North Cook News

Thursday, October 31, 2024

Cook County home prices rose in first half of 2024

Webp jfqe32g2yeijo4dc3s5r6bj6f8eh

County Clerk Cedric Giles, Cook County Clerk | https://www.cookcountyil.gov/all-people/cedric-giles

County Clerk Cedric Giles, Cook County Clerk | https://www.cookcountyil.gov/all-people/cedric-giles

The median sale price of a home sold in the first half of 2024 in Cook County rose by $28,000, while total sales decreased by 3.5%, according to BlockShopper.com.

From January through June of 2024, 26,450 homes were sold in the county, with a median sale price of $304,000. This is a 10.1% increase over the $276,000 median sale price during the same period in 2023, when there were 27,398 homes sold.

Based on the latest available data from 2023, the median sales tax in Cook County was $5,784, which stands at 1.9% of the median home sale price for the first half of 2024.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Cook County from January 2023 to June 2024.

Jan. - June 2023July - Dec. 2023Jan. - June 2024$276,000$276,000$290,000$290,000$304,000$304,000

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS