Is Chicago Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chicago Heights is a neutral's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

Chicago Heights 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 Chicago Heights, IL

How much do homes in Chicago Heights, IL cost?

Median Sold Price

$186,500

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$9,000(+5.1%)

Key Takeaway

Homes in Chicago Heights have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Chicago Heights was $186,500 in September 2024, up 5.1% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $74.2K-
N/A
2 $152.5K$132.9K
-12.8%
3 $176K$184.9K
+5.1%
4 $200K$230K
+15.0%
5+ $193K$229.9K
+19.1%

Summary: Chicago Heights housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.8%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 19.1%.

Median Sold Price Compared To Nearby Cities

Glenwood
+8.5%
South Chicago Heights
+7.7%
Bloom Township
+6.9%
Chicago Heights
+5.1%
Olympia Fields
+1.8%

Housing Supply in Chicago Heights, IL

How many homes are available in Chicago Heights, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
128146+14.1%

Summary: The Chicago Heights real estate market had 146 homes for sale in September 2024, a 14.1% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 99
0.0%
3 6677
+16.7%
4 3035
+16.7%
5+ 2325
+8.7%

Summary: The Chicago Heights housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 8.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
23230.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Heights, you may be able to get a good deal. 39.1% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Chicago Heights in September 2024, the same as the previous month. Of the 23 sold homes, 39% were sold under asking, 35% were sold at asking, and 26% were sold over asking.

Days on Market for Chicago Heights, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
26 Days23 Days-12.4%

Summary: Homes in Chicago Heights had an average of 23 days on market in Sep 2024, down by 12.4% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 23 homes were sold in Chicago Heights; 74% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 0% 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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