Is Blue Island, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Blue Island is a neutral's market

Buyer's
Market

Difference Since November 2022

At the same time last year, Blue Island was a Seller's Market.

Key Takeaway

Blue Island is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Blue Island, IL

How much do homes in Blue Island, IL cost?

Median Sold Price

$190,000

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

-$18,000(-8.7%)

Key Takeaway

Homes in Blue Island have sold for 8.7% less than they did a year ago.

Summary: The median home sold price in Blue Island was $190,000 in November 2023, down 8.7% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $50K$50.5K
+1.0%
2 $150K$107.5K
-28.3%
3 $202.5K$199.5K
-1.5%
4 $237.5K$192.5K
-18.9%
5+ $260K$279.9K
+7.7%

Summary: Blue Island housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 1%, 2 bedroom homes decreased by 28.3%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 18.9%, and 5+ bedroom homes increased by 7.7%.

Median Sold Price Compared To Nearby Cities

Robbins
+28.0%
Calumet Park
+3.5%
Dixmoor
+1.2%
Calumet Township
-6.4%
Blue Island
-8.7%

Housing Supply in Blue Island, IL

How many homes are available in Blue Island, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
4854+12.5%

Summary: The Blue Island real estate market had 54 homes for sale in November 2023, a 12.5% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 22
0.0%
2 1115
+36.4%
3 1718
+5.9%
4 1110
-9.1%
5+ 79
+28.6%

Summary: The Blue Island housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
129-25.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Blue Island, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Blue Island in November 2023, down by 25.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.

Days on Market for Blue Island, IL

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

Average Sale Time

Nov 2022Nov 2023CHANGE
17 Days26 Days+51.5%

Summary: Homes in Blue Island had an average of 26 days on market in Nov 2023, up by 51.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2023, 9 homes were sold in Blue Island; 78% of homes were sold within 30 days, 22% 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 9 Days Ago

Newest Listings in Blue Island, IL

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