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 August 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

$185,000

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$10,500(+6.0%)

Key Takeaway

Homes in Chicago Heights have sold for 6% more than they did a year ago.

Summary: The median home sold price in Chicago Heights was $185,000 in August 2024, up 6% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $74.2K-
N/A
2 $158K$130.9K
-17.1%
3 $172.9K$179K
+3.5%
4 $195K$225K
+15.4%
5+ $191K$224.2K
+17.4%

Summary: Chicago Heights housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 17.4%.

Median Sold Price Compared To Nearby Cities

Glenwood
+11.4%
Bloom Township
+6.2%
Chicago Heights
+6.0%
Olympia Fields
+3.3%
South Chicago Heights
-8.4%

Housing Supply in Chicago Heights, IL

How many homes are available in Chicago Heights, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
117140+19.7%

Summary: The Chicago Heights real estate market had 140 homes for sale in August 2024, a 19.7% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 69
+50.0%
3 6071
+18.3%
4 3136
+16.1%
5+ 2024
+20.0%

Summary: The Chicago Heights housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2023+15.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chicago Heights, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in Chicago Heights in August 2024, up by 15.0% month-over-month. Of the 23 sold homes, 22% were sold under asking, 26% were sold at asking, and 52% 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

Aug 2023Aug 2024CHANGE
53 Days28 Days-46.5%

Summary: Homes in Chicago Heights had an average of 28 days on market in Aug 2024, down by 46.5% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

9 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 August 2024, 23 homes were sold in Chicago Heights; 61% of homes were sold within 30 days, 39% 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 8 Days Ago

Newest Listings in Chicago Heights, IL

Nearby Markets to Chicago Heights, IL

What housing markets are near Chicago Heights, IL?