Is Harwood Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Harwood Heights is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Harwood Heights, IL

How much do homes in Harwood Heights, IL cost?

Median Sold Price

$331,050

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$1,050(+0.3%)

Key Takeaway

The sold price of homes in Harwood Heights has remained the same since last year.

Summary: The median home sold price in Harwood Heights was $331,050 in May 2024, up 0.3% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $171.5K$180.5K
+5.2%
2 $272.9K$278K
+1.9%
3 $357.9K$382.5K
+6.9%
4 $410K$571K
+39.3%
5+ $502K$695K
+38.4%

Summary: Harwood Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 39.3%, and 5+ bedroom homes increased by 38.4%.

Median Sold Price Compared To Nearby Cities

Norwood Park Township
+8.1%
Norridge
+5.6%
Chicago
+3.1%
Harwood Heights
0.3%

Housing Supply in Harwood Heights, IL

How many homes are available in Harwood Heights, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3031+3.3%

Summary: The Harwood Heights real estate market had 31 homes for sale in May 2024, a 3.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 1110
-9.1%
3 1012
+20.0%
4 76
-14.3%
5+ 11
0.0%

Summary: The Harwood Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Harwood Heights, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Harwood Heights in May 2024, down by 11.1% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.

Days on Market for Harwood Heights, IL

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

Average Sale Time

May 2023May 2024CHANGE
40 Days26 Days-35.9%

Summary: Homes in Harwood Heights had an average of 26 days on market in May 2024, down by 35.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 8 homes were sold in Harwood Heights; 63% of homes were sold within 30 days, 38% 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

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