Is Calumet City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Calumet City is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Calumet City, IL

How much do homes in Calumet City, IL cost?

Median Sold Price

$150,299

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$9,700(-6.1%)

Key Takeaway

Homes in Calumet City have sold for 6.1% less than they did a year ago.

Summary: The median home sold price in Calumet City was $150,299 in March 2024, down 6.1% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $70.5K$59K
-16.3%
2 $85K$92.4K
+8.8%
3 $168K$155.9K
-7.2%
4 $174.9K$165K
-5.7%
5+ $227K$245.8K
+8.3%

Summary: Calumet City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 8.3%.

Median Sold Price Compared To Nearby Cities

Lansing
+0.6%
South Holland
0.4%
Thornton Township
-0.6%
Calumet City
-6.1%

Housing Supply in Calumet City, IL

How many homes are available in Calumet City, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
161179+11.2%

Summary: The Calumet City real estate market had 179 homes for sale in March 2024, a 11.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 2527
+8.0%
3 88102
+15.9%
4 2020
0.0%
5+ 2427
+12.5%

Summary: The Calumet City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 15.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2623-11.5%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Calumet City, you may be able to get a good deal. 60.9% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Calumet City in March 2024, down by 11.5% month-over-month. Of the 23 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.

Days on Market for Calumet City, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
55 Days64 Days+16.6%

Summary: Homes in Calumet City had an average of 64 days on market in Mar 2024, up by 16.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 23 homes were sold in Calumet City; 52% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 26% 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 19 Days Ago

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