Is Palos Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palos Township has remained a Seller's Market.
Housing Prices in Palos Township, IL
How much do homes in Palos Township, IL cost?
Median Sold Price
$310,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palos Township was $310,000 in April 2024, up 18.6% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $102.5K | $113K | +10.2% |
2 Bedrooms | $194.6K | $215K | +10.4% |
3 Bedrooms | $300K | $345K | +15.0% |
4 Bedrooms | $445K | $442.3K | -0.6% |
5+ Bedrooms | $600K | $630K | +5.0% |
Summary: Palos Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
Worth | $203K | $249.7K | +23.0% |
Hickory Hills | $264K | $313.5K | +18.8% |
Palos Township | $261.4K | $310K | +18.6% |
Palos Hills | $212.7K | $247.5K | +16.3% |
Palos Park | $460K | $423.7K | -7.9% |
Housing Supply in Palos Township, IL
How many homes are available in Palos Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
177 | 208 | +17.5% |
Summary: The Palos Township real estate market had 208 homes for sale in April 2024, a 17.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 53 | 55 | +3.8% |
3 Bedrooms | 63 | 80 | +27.0% |
4 Bedrooms | 41 | 48 | +17.1% |
5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Palos Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 27%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
61 | 52 | -14.8% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Palos Township in April 2024, down by 14.8% month-over-month. Of the 52 sold homes, 44% were sold under asking, 17% were sold at asking, and 38% were sold over asking.
Days on Market for Palos Township, IL
How long does it take to sell a home in Palos Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 31 Days | +25.2% |
Summary: Homes in Palos Township had an average of 31 days on market in Apr 2024, up by 25.2% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 52 homes were sold in Palos Township; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.