Is Harvey, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Harvey is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Harvey, IL

How much do homes in Harvey, IL cost?

Median Sold Price

$120,000

$100/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,050(+4.4%)

Key Takeaway

Homes in Harvey have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Harvey was $120,000 in May 2024, up 4.4% from last year, and the median price per square foot was $100.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $16.5K-
N/A
2 $65.9K$76K
+15.3%
3 $115K$120K
+4.3%
4 $132K$149K
+12.9%
5+ $122.4K$145.9K
+19.2%

Summary: Harvey 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 increased by 15.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 19.2%.

Median Sold Price Compared To Nearby Cities

Markham
+16.4%
Dixmoor
+13.3%
Harvey
+4.4%
Thornton Township
+3.7%

Housing Supply in Harvey, IL

How many homes are available in Harvey, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
89104+16.9%

Summary: The Harvey real estate market had 104 homes for sale in May 2024, a 16.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1115
+36.4%
3 5456
+3.7%
4 1422
+57.1%
5+ 1011
+10.0%

Summary: The Harvey 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 increased by 36.4%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1018+80.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Harvey, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Harvey in May 2024, up by 80.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 22% were sold at asking, and 50% were sold over asking.

Days on Market for Harvey, IL

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

Average Sale Time

May 2023May 2024CHANGE
46 Days53 Days+14.9%

Summary: Homes in Harvey had an average of 53 days on market in May 2024, up by 14.9% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 18 homes were sold in Harvey; 61% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 17% 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 Harvey, IL

Nearby Markets to Harvey, IL

What housing markets are near Harvey, IL?