Is Chatham, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Chatham was a Buyer's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $38K | $52K | +36.8% |
2 Bedrooms | $83K | $75K | -9.6% |
3 Bedrooms | $190K | $184.9K | -2.7% |
4 Bedrooms | $214.5K | $215.5K | 0.5% |
5+ Bedrooms | $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 | $214.8K | $219.9K | +2.4% |
West Chesterfield | $166K | $155K | -6.6% |
Chatham | $205.9K | $190K | -7.7% |
Housing Supply in Chatham, IL
How many homes are available in Chatham, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
126 | 145 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 23 | 23 | 0.0% |
3 Bedrooms | 43 | 56 | +30.2% |
4 Bedrooms | 28 | 31 | +10.7% |
5+ Bedrooms | 29 | 33 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 23 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
78 Days | 84 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
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.