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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Steger is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Steger, IL

How much do homes in Steger, IL cost?

Median Sold Price

$165,450

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,950(+7.8%)

Key Takeaway

Homes in Steger have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Steger was $165,450 in May 2024, up 7.8% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $48.7K-
N/A
2 $112K$130K
+16.1%
3 $152K$161K
+5.9%
4 $161K$187.5K
+16.5%
5+ $196.2K$162.5K
-17.2%

Summary: Steger 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 16.1%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes decreased by 17.2%.

Median Sold Price Compared To Nearby Cities

Crete Township
+12.8%
Steger
+7.8%
South Chicago Heights
+4.2%
Sauk Village
+3.4%
Crete
+2.0%

Housing Supply in Steger, IL

How many homes are available in Steger, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4252+23.8%

Summary: The Steger real estate market had 52 homes for sale in May 2024, a 23.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 99
0.0%
3 1726
+52.9%
4 109
-10.0%
5+ 56
+20.0%

Summary: The Steger 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 remained the same, 3 bedroom homes increased by 52.9%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
512+140.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Steger, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Steger in May 2024, up by 140.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 25% were sold at asking, and 42% were sold over asking.

Days on Market for Steger, IL

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

Average Sale Time

May 2023May 2024CHANGE
30 Days51 Days+67.6%

Summary: Homes in Steger had an average of 51 days on market in May 2024, up by 67.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 12 homes were sold in Steger; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% 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 Steger, IL

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