Is Bloom Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bloom Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Bloom Township, IL

How much do homes in Bloom Township, IL cost?

Median Sold Price

$195,853

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$7,409(+3.9%)

Key Takeaway

Homes in Bloom Township have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Bloom Township was $195,853 in May 2024, up 3.9% from last year, and the median price per square foot was $141.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $53K$85K
+60.4%
2 $125K$130K
+4.0%
3 $180.2K$189.9K
+5.4%
4 $246K$250K
+1.6%
5+ $236K$270K
+14.4%

Summary: Bloom Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60.4%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 14.4%.

Median Sold Price Compared To Nearby Cities

Glenwood
+11.1%
Chicago Heights
+5.9%
South Chicago Heights
+4.2%
Bloom Township
+3.9%

Housing Supply in Bloom Township, IL

How many homes are available in Bloom Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
349346-0.9%

Summary: The Bloom Township real estate market had 346 homes for sale in May 2024, a 0.9% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 47
+75.0%
2 4049
+22.5%
3 194180
-7.2%
4 8280
-2.4%
5+ 2930
+3.4%

Summary: The Bloom Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 22.5%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 3.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
10787-18.7%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

44 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloom Township, you could pay more than the asking price. 50.6% of homes here sold above asking price last month.

Summary: A total of 87 homes were sold or pending in Bloom Township in May 2024, down by 18.7% month-over-month. Of the 87 sold homes, 29% were sold under asking, 21% were sold at asking, and 51% were sold over asking.

Days on Market for Bloom Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
40 Days33 Days-16.6%

Summary: Homes in Bloom Township had an average of 33 days on market in May 2024, down by 16.6% compared to last year.

Breakdown of Home Sale Times

54 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 87 homes were sold in Bloom Township; 62% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% 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 12 Days Ago

Newest Listings in Bloom Township, IL

Nearby Markets to Bloom Township, IL

What housing markets are near Bloom Township, IL?