Is Burnham, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burnham is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Burnham was a Neutral Market.

Key Takeaway

Burnham is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Burnham, IL

How much do homes in Burnham, IL cost?

Median Sold Price

$152,500

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,500(+11.3%)

Key Takeaway

Homes in Burnham have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in Burnham was $152,500 in February 2024, up 11.3% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $79.9K$83K
+3.9%
3 $145.5K$184.4K
+26.7%
4 $155K$150K
-3.2%
5+ $155K-
N/A

Summary: Burnham housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 26.7%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Burnham
+11.3%
Thornton Township
-1.5%
Calumet City
-5.2%

Housing Supply in Burnham, IL

How many homes are available in Burnham, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1014+40.0%

Summary: The Burnham real estate market had 14 homes for sale in February 2024, a 40.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 11
0.0%
3 58
+60.0%
4 33
0.0%
5+ 11
0.0%

Summary: The Burnham housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 60%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burnham, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Burnham in February 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Burnham, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
161 Days3 Days-98.1%

Summary: Homes in Burnham had an average of 3 days on market in Feb 2024, down by 98.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 1 homes were sold in Burnham; 100% of homes were sold within 30 days, 0% 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 1 Day Ago

Newest Listings in Burnham, IL

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