Home Values

Western Springs Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$487,800

  • 3.0% 1-year change
  • 1.1% 1-year forecast

The median home value in Western Springs is $487,800. Western Springs home values have gone up 3.0% over the past year and Zillow predicts they will rise 1.1% within the next year. The median list price per square foot in Western Springs is $296, which is higher than the Chicago Metro average of $128. The median price of homes currently listed in Western Springs is $615,000 while the median price of homes that sold is $578,824.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Western Springs is 4.8%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Western Springs homeowners underwater on their mortgage is 8.8%, which is lower than Chicago Metro at 25.3%.

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Relative ZHVI
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Western Springs Market Overview

Data through Dec 31, 2014
  • $487,800 ZHVI
  • 1.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $615,000 Median listing price
  • $578,824 Median sale price (Oct 31, 2014)
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Western Springs Market Health

Data through Dec 31, 2014
  • 3.1/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 8.8% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 4.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Cities

Name Median ZHVI
Hinsdale $823,000
Burr Ridge $629,000
Clarendon Hills $445,000
Name Median ZHVI
La Grange $408,200
La Grange Park $282,500
Countryside $258,100
Name Median ZHVI
Brookfield $201,600
Westchester $196,000
Indian Head Park $193,700

Listings & Sales

Data through Dec 31, 2014
  • $296 Median list price / sq ft
  • $277 Median sale price / sq ft (Oct 31, 2014)
  • 16.4% Listings with price cut
11.7%
Sold below listing
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Western Springs Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $2,231 Western Springs
    $1,623 Chicago Metro
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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