Is Blue Island, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Blue Island has remained a Seller's Market.
Key Takeaway
Blue Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Blue Island, IL
How much do homes in Blue Island, IL cost?
Median Sold Price
$192,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Blue Island have sold for 4% less than they did a year ago.
Summary: The median home sold price in Blue Island was $192,000 in March 2024, down 4% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $51K | +2.0% |
| 2 Bedrooms | $150K | $137K | -8.7% |
| 3 Bedrooms | $197K | $201K | +2.0% |
| 4 Bedrooms | $224K | $200.5K | -10.5% |
| 5+ Bedrooms | $262.8K | $240K | -8.7% |
Summary: Blue Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes decreased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Calumet Township | $164.9K | $180K | +9.1% |
| Calumet Park | $159.9K | $172.4K | +7.8% |
| Blue Island | $200K | $192K | -4.0% |
Housing Supply in Blue Island, IL
How many homes are available in Blue Island, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 37 | 0.0% |
Summary: The Blue Island real estate market had 37 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Blue Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Blue Island, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Blue Island in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 38 Days | +106.9% |
Summary: Homes in Blue Island had an average of 38 days on market in Mar 2024, up by 106.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Blue Island are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Blue Island; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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