$134,988
1512 Spring Bay Rd
Bay View Gardens, IL
3 bd3 ba
Multi-family
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Bay View Gardens, IL Housing Market
Seller's market+23.3% YoY
Redfin, through April 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The last median sale price Redfin published was $127,000, +23.3% year over year (through May 2026). With 1.0 months of supply and homes going under contract in about 36 days, Bay View Gardens is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $127,000 home is about $678/mo in principal and interest.
Key numbers for Bay View Gardens, IL
Median sale price
$127,000
+23.3% year over year
Redfin, through April 2026
Days on market
36
Average pace
Redfin, through April 2026
Active listings
1
1.0 months of supply
Redfin, through April 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$46,875
Home costs 2.7x income
U.S. Census ACS, 2023
Sale-to-list ratio
94.1%
Selling below asking
Redfin, through April 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Bay View Gardens a buyer's or seller's market?
Seller's market1.0 months of supply36 days on market94.1% of asking
Bay View Gardens, IL is a seller's market, based on 1.0 months of supply and homes selling in about 36 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Bay View Gardens housing market data show?
Every row below is Redfin's final published month for Bay View Gardens, IL. Redfin, through April 2026
| Metric | Value |
|---|---|
| Median sale price | $127,000 |
| Median list price | $176,000 |
| Year-over-year price change | +23.3% |
| Median price per sq ft | $70/sq ft |
| Median days on market | 36 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 94.1% |
| Homes sold (that month) | 1 |
| New listings (that month) | 1 |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Bay View Gardens is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Bay View Gardens is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Bay View Gardens home prices moved?
Across the 16 months we hold for Bay View Gardens, IL, the median sale price rose 21.0%, from $105,000 in July 2021 to $127,000. For prices to fall meaningfully from here, supply would have to keep building past 1.0 months while the sale-to-list ratio slips below its current 94.1%. Watch those two together — they move before the median does.
Redfin, through April 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Bay View Gardens?
Priced off the median sale price of $127,000 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $25,400 | $101,600 | $678/mo |
| 5% | $6,350 | $120,650 | $805/mo |
Redfin, through April 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $678, that implies roughly $29,057 a year before you add taxes and insurance. The median household in Bay View Gardens earns $46,875, about $17,818 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 2.7x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Bay View Gardens in the next 12 months?
Tell us your timeline. We send the Bay View Gardens market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Bay View Gardens?
Zillow does not publish a rent index (ZORI) for Bay View Gardens, IL, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Bay View Gardens?
Active listings in Bay View Gardens, IL went from 1 in July 2021 to 1 in April 2026, a +0.0% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| July 2021 | 1 | not published |
| February 2024 | 1 | not published |
| April 2024 | 2 | 1 |
| July 2024 | 2 | 1 |
| October 2024 | 1 | not published |
| February 2025 | 1 | not published |
| April 2026 | 1 | 1 |
Redfin, through April 2026
How does Bay View Gardens compare to Illinois and the U.S.?
Bay View Gardens homes sell for $127,000 — 62% below the Illinois median of $337,900. Against the national median of $410,700, Bay View Gardens runs 69% lower. Year-over-year, Bay View Gardens moved +23.3% against Illinois's +5.9% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Bay View Gardens, IL | $127,000 | +23.3% | 36 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through April 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Bay View Gardens
What buyers should watch
- Months of supply, currently 1.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $127 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $127,000 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Bay View Gardens listing goes under contract in 36 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 94.1% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Bay View Gardens added 1 new listings against 1 sales — more clearing than arriving, which is the better window to list.
- Comparable ZIP-level pricing inside Bay View Gardens varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Bay View Gardens
There are currently 1 homes listed for sale in Bay View Gardens, Illinois. The median listing price is $176K.
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Active listings
1
Homes on market
Median list price
$176K
Avg. days on market
36
Days until sale
New this week
1
Newly listed
Sale-to-list:94.1%
How much do homes cost in Bay View Gardens by property type?
How the Bay View Gardens, IL market breaks down across single-family homes, condos and townhouses. Redfin, through April 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $68,237 | $88/sq ft | 1 | 2 days |
Who lives in Bay View Gardens?
American Community Survey estimates for Bay View Gardens. U.S. Census ACS, 2023
Population
287
Households
129
Median income
$46,875/yr
Median age
47.2 years
Owner-occupied
68.2%
Median home value
$116,700
Median gross rent
$748/mo
Mean commute
21.3 min
68.2% of occupied homes in Bay View Gardens are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near Bay View Gardens, IL?
Ordered by distance from Bay View Gardens, not by size. Compare Bay View Gardens side by side with any of them.
Bay View Gardens housing market FAQ
Is Bay View Gardens a buyer's or seller's market?
Bay View Gardens, IL is currently a seller's market. That read comes from 1.0 months of supply, homes going under contract in about 36 days, and sellers getting 94.1% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Bay View Gardens?
The median sale price in the last month Redfin published was $127,000, about $70 per square foot.
Is Bay View Gardens cheaper than the rest of Illinois?
Bay View Gardens's median sale price of $127,000 is 62% lower than the Illinois statewide median of $337,900, and 69% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Bay View Gardens?
Homes in Bay View Gardens, IL spent a median of 36 days on market before going under contract, versus 43 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Bay View Gardens?
At the current 30-year fixed rate of 7.03%, 20% down on a $127,000 home is about $678 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $29,057 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $46,875.
Are home prices rising in Bay View Gardens?
Redfin's last published year-over-year change for Bay View Gardens, IL was +23.3%, measured through May 2026. That series is frozen; treat it as a historical reading rather than a current trend.
What are the cheapest ZIP codes in Bay View Gardens?
Bay View Gardens ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Bay View Gardens?
That depends on your timeline, not on a headline. What the data says today: Bay View Gardens, IL is a seller's market with 1.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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