Is Blue Island, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Blue Island is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Blue Island has remained a Seller's Market.

Key Takeaway

Blue Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Blue Island, IL

How much do homes in Blue Island, IL cost?

Median Sold Price

$198,500

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$1,450(-0.7%)

Key Takeaway

Homes in Blue Island have sold for 0.7% less than they did a year ago.

Summary: The median home sold price in Blue Island was $198,500 in May 2024, down 0.7% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $50K$51.5K
+3.0%
2 $107.5K$137K
+27.4%
3 $192K$203K
+5.7%
4 $231K$220K
-4.8%
5+ $263.9K$257K
-2.6%

Summary: Blue Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3%, 2 bedroom homes increased by 27.4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 2.6%.

Median Sold Price Compared To Nearby Cities

Robbins
+17.0%
Calumet Township
+15.7%
Dixmoor
+13.3%
Calumet Park
+13.2%
Blue Island
-0.7%

Housing Supply in Blue Island, IL

How many homes are available in Blue Island, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4455+25.0%

Summary: The Blue Island real estate market had 55 homes for sale in May 2024, a 25.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 99
0.0%
3 1723
+35.3%
4 610
+66.7%
5+ 1011
+10.0%

Summary: The Blue Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 35.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
314+366.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Blue Island, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Blue Island in May 2024, up by 366.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 36% were sold at asking, and 29% were sold over asking.

Days on Market for Blue Island, IL

How long does it take to sell a home in Blue Island, IL?

Average Sale Time

May 2023May 2024CHANGE
44 Days21 Days-52.7%

Summary: Homes in Blue Island had an average of 21 days on market in May 2024, down by 52.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Blue Island are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 14 homes were sold in Blue Island; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Blue Island, IL

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