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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burnham is a neutral's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Burnham, IL cost?

Median Sold Price

$148,500

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$16,500(+12.5%)

Key Takeaway

Homes in Burnham have sold for 12.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 --
N/A
2 $67K$72.4K
+8.1%
3 $150.7K$169.9K
+12.7%
4 $135K$155K
+14.8%
5+ $149.5K$155K
+3.7%

Median Sold Price Compared To Nearby Cities

Calumet City
+13.0%
Burnham
+12.5%
Thornton Township
+8.2%

How many homes are available in Burnham, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
2126+23.8%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 11
0.0%
2 44
0.0%
3 1215
+25.0%
4 35
+66.7%
5+ 11
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
14+300.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were 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. 75% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
20 Days27 Days+35.0%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Burnham, IL

Burnham, IL has 26 homes on the market. The inventory of homes for sale in Burnham, IL between October 2022 and November 2022 increased by 23.8%. In November 2022 median list price was $148,500 and the average listing age was 27 days. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, 2 bedrooms properties prices increased by 8.1%, the cost of 3 bedrooms properties went up by 12.7%, 4 bedrooms properties prices increased by 14.8%, 5 bedrooms properties prices increased by 3.7%. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes stayed the same, volume of 3 bedrooms homes went up by 25%, the quantity of 4 bedrooms homes went up by 66.7%, 5 bedrooms homes did not move. In November 2022 more than 3 listings in Burnham, IL were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 1 were sold below.

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