Is Summit Argo, 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, Summit Argo has remained a Seller's Market.
Housing Prices in Summit Argo, IL
How much do homes in Summit Argo, IL cost?
Median Sold Price
$290,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Summit Argo was $290,000 in May 2024, up 10.3% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $48K | - | N/A |
2 Bedrooms | $157.5K | $235K | +49.2% |
3 Bedrooms | $260K | $270.5K | +4.0% |
4 Bedrooms | $305K | $362.5K | +18.9% |
5+ Bedrooms | $321.2K | $340K | +5.8% |
Summary: Summit Argo 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 49.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 5.8%.
Housing Supply in Summit Argo, IL
How many homes are available in Summit Argo, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Summary: The Summit Argo real estate market had 16 homes for sale in May 2024, a 14.3% increase 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 | 2 | 1 | -50.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Summit Argo 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 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Summit Argo in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Summit Argo, IL
How long does it take to sell a home in Summit Argo, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 21 Days | -10.3% |
Summary: Homes in Summit Argo had an average of 21 days on market in May 2024, down by 10.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Summit Argo; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.