Is Homewood, 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, Homewood has remained a Seller's Market.
Housing Prices in Homewood, IL
How much do homes in Homewood, IL cost?
Median Sold Price
$237,583
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Homewood was $237,583 in May 2024, down 0.4% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75K | $115K | +53.3% |
2 Bedrooms | $144.9K | $155K | +7.0% |
3 Bedrooms | $240K | $249.9K | +4.1% |
4 Bedrooms | $299K | $310K | +3.7% |
5+ Bedrooms | $350K | $319.9K | -8.6% |
Summary: Homewood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.3%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Cities
East Hazel Crest | $153.5K | $200K | +30.3% |
Hazel Crest | $155K | $180K | +16.1% |
Flossmoor | $309.5K | $321.9K | +4.0% |
Homewood | $238.5K | $237.5K | -0.4% |
Housing Supply in Homewood, IL
How many homes are available in Homewood, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
97 | 108 | +11.3% |
Summary: The Homewood real estate market had 108 homes for sale in May 2024, a 11.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 5 | +150.0% |
2 Bedrooms | 22 | 24 | +9.1% |
3 Bedrooms | 39 | 45 | +15.4% |
4 Bedrooms | 30 | 31 | +3.3% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Homewood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 24 | -22.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Homewood in May 2024, down by 22.6% month-over-month. Of the 24 sold homes, 21% were sold under asking, 25% were sold at asking, and 54% were sold over asking.
Days on Market for Homewood, IL
How long does it take to sell a home in Homewood, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 34 Days | +47.3% |
Summary: Homes in Homewood had an average of 34 days on market in May 2024, up by 47.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Homewood; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.