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 seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Chicago Heights has remained a Seller's Market.

Key Takeaway

Chicago Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Chicago Heights, IL

How much do homes in Chicago Heights, IL cost?

Median Sold Price

$187,000

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$17,000(+10.0%)

Key Takeaway

Homes in Chicago Heights have sold for 10% more than they did a year ago.

Summary: The median home sold price in Chicago Heights was $187,000 in March 2024, up 10% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$74.2K
N/A
2 $138K$149.9K
+8.6%
3 $170K$185K
+8.8%
4 $193K$210K
+8.8%
5+ $186.5K$207.5K
+11.3%

Summary: Chicago Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 11.3%.

Median Sold Price Compared To Nearby Cities

Glenwood
+13.0%
Chicago Heights
+10.0%
Bloom Township
+5.4%
Olympia Fields
+1.5%
South Chicago Heights
-2.7%

Housing Supply in Chicago Heights, IL

How many homes are available in Chicago Heights, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
120112-6.7%

Summary: The Chicago Heights real estate market had 112 homes for sale in March 2024, a 6.7% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 77
0.0%
3 6661
-7.6%
4 2323
0.0%
5+ 2421
-12.5%

Summary: The Chicago Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2724-11.1%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

8 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. 33.3% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Chicago Heights in March 2024, down by 11.1% month-over-month. Of the 24 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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

Mar 2023Mar 2024CHANGE
79 Days68 Days-13.1%

Summary: Homes in Chicago Heights had an average of 68 days on market in Mar 2024, down by 13.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

4 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 March 2024, 24 homes were sold in Chicago Heights; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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 17 Days Ago

Newest Listings in Chicago Heights, IL

Nearby Markets to Chicago Heights, IL

What housing markets are near Chicago Heights, IL?