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Friday, January 17, 2025

Cook County home prices rose in November 2024 compared to November 2023

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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

In November 2024, the median sale price of a home in Cook County rose by $30,500 from the same period in the previous year, while total sales increased by 12.3%, according to BlockShopper.com.

There were 4,516 homes sold in November 2024, with a median sale price of $310,500 — a 10.9% increase over the $280,000 median sale price during the same period of the previous year. In comparison, 4,020 homes were sold in Cook County in November 2023.

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

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 November 2023 to November 2024.

November 2023December 2023January 2024February 2024March 2024April 2024May 2024June 2024July 2024August 2024September 2024October 2024November 2024$280,000$280,000$285,000$285,000$277,250$277,250$275,000$275,000$297,000$297,000$307,000$307,000$320,000$320,000$331,000$331,000$335,000$335,000$320,000$320,000$318,000$318,000$316,000$316,000$310,500$310,500

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