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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chatham is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Chatham was a Buyer's Market.

Key Takeaway

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

Housing Prices in Chatham, IL

How much do homes in Chatham, IL cost?

Median Sold Price

$190,000

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$15,900(-7.7%)

Key Takeaway

Homes in Chatham have sold for 7.7% less than they did a year ago.

Summary: The median home sold price in Chatham was $190,000 in March 2024, down 7.7% from last year, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $38K$52K
+36.8%
2 $83K$75K
-9.6%
3 $190K$184.9K
-2.7%
4 $214.5K$215.5K
0.5%
5+ $327.5K$290K
-11.5%

Summary: Chatham housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.8%, 2 bedroom homes decreased by 9.6%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 11.5%.

Median Sold Price Compared To Nearby Neighborhoods

Auburn Gresham
+2.4%
West Chesterfield
-6.6%
Chatham
-7.7%

Housing Supply in Chatham, IL

How many homes are available in Chatham, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
126145+15.1%

Summary: The Chatham real estate market had 145 homes for sale in March 2024, a 15.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 32
-33.3%
2 2323
0.0%
3 4356
+30.2%
4 2831
+10.7%
5+ 2933
+13.8%

Summary: The Chatham housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 30.2%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 13.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1723+35.3%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chatham, you may be able to get a good deal. 52.2% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Chatham in March 2024, up by 35.3% month-over-month. Of the 23 sold homes, 52% were sold under asking, 26% were sold at asking, and 22% were sold over asking.

Days on Market for Chatham, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
78 Days84 Days+7.7%

Summary: Homes in Chatham had an average of 84 days on market in Mar 2024, up by 7.7% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 23 homes were sold in Chatham; 39% of homes were sold within 30 days, 35% 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 18 Days Ago

Newest Listings in Chatham, IL

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