Zillow listings of Real Estate in Illinois

Introduction

Zillow, which was founded in 2006, is a leading real estate marketplace dedicated to helping consumers with data, inspiration, and knowledge around their search for a home. Throughout its time, it has cemented its reputation as an indispensable resource, offering much more than just property listings. Zillow is designed to provide a seamless, end-to-end transaction experience; helping renters, shoppers, buyers, and sellers with every step of their journey. Whether someone is searching for their dream home, exploring investment opportunities, or looking to sell their property, Zillow’s comprehensive platform offers tools and insights to navigate the housing market.

The Data

When trying to web scrape Zillow’s listings, I was only able to take 9 listings per page, instead of the whole amount. I was not able to find a workout this, so the data used in this analysis is fairly limited.

The data I used in this analysis was collected from https://www.zillow.com/il/. I only wanted to focus on listings in Illinois, and not any other state. The variables I collected were:

-The Broker

-Price

-Number of bedrooms

-Number of bathrooms

-The square footage

-The listing status

-The address

To do a little more analysis on the data I collected, I choose to break the address down and create new columns for the City, and Zip code of the listing to use later on in my exploration of the data.

Do more bedrooms mean a higher price?

The first question I wanted to answer was, what is the average price of a house based off its number of bedrooms? I wanted to do this, since it can offer a unique insight as to how houses with a certain amounts of bedrooms are priced compared to others.

This graph shows a clear uptrend in the average price of a house based off the number of bedrooms it has. We see that as the number of bedrooms does, so does the price. One thing to note in this visual, is that the reason houses with 6 bedrooms have a very high average price, is because one house that has 6 bedrooms is listed at $23,500,000. For another insight it would be interesting to see what the average prices look like when we remove that outlier. Another thing I found very interesting in this graph was the increase in average prices from houses with 2 bedrooms to those with 3; compared to the increase in average prices from houses with 4 bedrooms to 5 bedrooms. I think that other factors like square footage, location, or other factors could also maybe help explain that better.

Does a bigger house have a higher price?

I wanted to see if house that had more square footage, were priced higher than those with less. When creating this scatter plot I choose to exclude one listing in my data where the house was $23,500,000 and had 25,000 square feet as it was an outlier to my data, and didn’t help me.

This visual shows the relationship between square footage and price. The graph corroborates my initial assumption that as square footage increases, so does the price. While square footage is not the only factor affecting the price of a house, it is a significant one that can influence the price. It would be interesting to see what other factors, along with square footage, affect price, and which variable has the greatest effect on the price change.

What are the Median Prices of the Top 5 Cities?

I wanted to explore the median price of houses only within the top 5 cities, as they often represent significant economic and cultural hubs. By looking at this data, it can provide good insight as to where in Illinois the real estate market is most active and potentially lucrative. Understanding the median prices in these urban centers offers valuable information for home buyers, sellers, and investors looking to make informed decisions.

This graph offers us valuable insights. From what we see, we can infer that Elmhurst and Orland Park are potentially more affluent areas with higher property prices. This could be a result of these locations offering better properties, amenities, connectivity, or quality of life, which would attract more buyers and drive up the median property prices. On the other hand, cities like Chicago and South Elgin have lower median property prices, suggesting that these areas might be more affordable for buyers with a smaller budget. However, lower prices could also indicate lower demand, possibly due to factors such as fewer amenities, a less favorable location, or a lower quality of life. These insights can help guide real estate decisions, but it’s essential to consider other factors when deciding where to live.

Does the average prices of houses vary across different bedroom and bathroom configurations?

I wanted to look at the average prices of houses based on the number of bedrooms and bathrooms because these factors are crucial determinants of a property’s value and appeal. By examining how prices vary across different bedroom and bathroom configurations, we can gain valuable insights into the housing market’s dynamics, including trends in demand and preferences among buyers. This analysis can inform decisions for both buyers and sellers, helping them understand the relative value of properties based on their specific attributes.

This graph offers a very unique insight to the price of houses based on its bedroom and bathroom count. One very interesting insight this graph shows is that properties with 2 bedrooms and 2 bathrooms are priced higher on average than those with 3 bedrooms and 3 bathrooms. This could be due to a variety of factors such as location, property type, or the size and layout of the properties. This graph also shows us that houses that have 6 bedrooms, and 6 bathrooms are on average the most expensive house.

What is the Average Price of a House based on Zip Code?

I wanted to look at the average prices of houses based on different zip codes because the average price of a house varies significantly based on the zip code, reflecting the unique characteristics and demand of each area. Understanding these differences is crucial for informed decision-making in real estate, whether it’s for investment opportunities, budgeting, or gauging market trends. By examining average prices across different zip codes, individuals can tailor their housing search to align with their preferences, financial goals, and lifestyle needs, ensuring a well-informed and strategic approach to purchasing or investing in property.

The bar graph illustrates property values across different zip codes. Zip code 60126 stands out with an average price of approximately $2,500,000, suggesting it’s a premium location possibly due to superior amenities or community development. Other zip codes range from $800,000 to $1,500,000, offering various options. This data underscores the importance of location in property valuation and aids investors or home buyers in identifying high-value markets versus more moderately priced areas. Notably, as of the second quarter of 2023, the national average house price was $495,100, indicating these areas are likely more affluent or desirable with premium amenities and strong community development. Higher prices, particularly in zip code 60126, may indicate premium properties or a high cost of living. Prospective investors or home buyers should consider these factors, indicating these markets hold higher value compared to the national average.

Conclusion

Throughout this process, I have gained valuable insights into the Illinois housing market. From seeing the connections between variables such as square footage, bedrooms, and bathrooms, and their impact on prices, to conductingcomparisons between diverse locations and their average and median prices, this analysis has really shown me a deeper insight into the housing market in Illinois. In the future I would like to explore how the market in Illinois compares to that of other states. Understanding these insights could unveil broader trends and offer valuable perspectives for both local and national real estate strategies.