Is Chicago Heights, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chicago Heights has remained a Seller's Market.
Housing Prices in Chicago Heights, IL
How much do homes in Chicago Heights, IL cost?
Median Sold Price
$185,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chicago Heights was $185,000 in May 2024, up 5.9% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $74.2K | N/A |
2 Bedrooms | $143K | $135K | -5.6% |
3 Bedrooms | $174.5K | $180K | +3.2% |
4 Bedrooms | $200K | $210K | +5.0% |
5+ Bedrooms | $188.9K | $224.9K | +19.1% |
Summary: Chicago Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 19.1%.
Median Sold Price Compared To Nearby Cities
Glenwood | $180K | $200K | +11.1% |
Chicago Heights | $174.7K | $185K | +5.9% |
Olympia Fields | $324.1K | $339.5K | +4.7% |
South Chicago Heights | $165K | $172K | +4.2% |
Bloom Township | $188.4K | $195.8K | +3.9% |
Housing Supply in Chicago Heights, IL
How many homes are available in Chicago Heights, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 101 | -1.0% |
Summary: The Chicago Heights real estate market had 101 homes for sale in May 2024, a 1.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 9 | -18.2% |
3 Bedrooms | 55 | 52 | -5.5% |
4 Bedrooms | 20 | 22 | +10.0% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Chicago Heights 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 decreased by 18.2%, 3 bedroom homes decreased by 5.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 18 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Chicago Heights in May 2024, down by 33.3% month-over-month. Of the 18 sold homes, 17% were sold under asking, 22% were sold at asking, and 61% were sold over asking.
Days on Market for Chicago Heights, IL
How long does it take to sell a home in Chicago Heights, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 32 Days | -25.2% |
Summary: Homes in Chicago Heights had an average of 32 days on market in May 2024, down by 25.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 18 homes were sold in Chicago Heights; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.