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 September 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

$164,435

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$10,435(+6.8%)

Key Takeaway

Homes in Calumet City have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Calumet City was $164,435 in September 2024, up 6.8% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $63K$51K
-19.0%
2 $90K$89.9K
-0.1%
3 $160K$170K
+6.3%
4 $169.7K$162.5K
-4.3%
5+ $220K$263K
+19.5%

Summary: Calumet City housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 19.5%.

Median Sold Price Compared To Nearby Cities

Burnham
+30.9%
Lansing
+10.9%
Thornton Township
+9.7%
Calumet City
+6.8%
South Holland
+4.5%

Housing Supply in Calumet City, IL

How many homes are available in Calumet City, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
187205+9.6%

Summary: The Calumet City real estate market had 205 homes for sale in September 2024, a 9.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 12
+100.0%
2 2728
+3.7%
3 114125
+9.6%
4 2225
+13.6%
5+ 2325
+8.7%

Summary: The Calumet City housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 8.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3612-66.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Calumet City, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Calumet City in September 2024, down by 66.7% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% 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

Sep 2023Sep 2024CHANGE
50 Days32 Days-35.5%

Summary: Homes in Calumet City had an average of 32 days on market in Sep 2024, down by 35.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 September 2024, 12 homes were sold in Calumet City; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% 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 Sep 1, 2024

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