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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Harvey is a buyer's market

Buyer's
Market

Difference Since November 2022

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

Key Takeaway

Harvey is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Harvey, IL

How much do homes in Harvey, IL cost?

Median Sold Price

$115,000

$100/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$16,000(+16.2%)

Key Takeaway

Homes in Harvey have sold for 16.2% more than they did a year ago.

Summary: The median home sold price in Harvey was $115,000 in November 2023, up 16.2% from last year, and the median price per square foot was $100.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $16.5K-
N/A
2 $65.5K$65K
-0.8%
3 $90K$117.2K
+30.2%
4 $160K$134.5K
-15.9%
5+ $107.5K$135K
+25.6%

Summary: Harvey housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 30.2%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes increased by 25.6%.

Median Sold Price Compared To Nearby Cities

Harvey
+16.2%
Dixmoor
+1.2%
Thornton Township
-4.4%
Markham
-5.1%
Phoenix
-9.7%

Housing Supply in Harvey, IL

How many homes are available in Harvey, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
10696-9.4%

Summary: The Harvey real estate market had 96 homes for sale in November 2023, a 9.4% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 00
0.0%
2 1311
-15.4%
3 6258
-6.5%
4 2216
-27.3%
5+ 911
+22.2%

Summary: The Harvey housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
2211-50.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Harvey, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Harvey in November 2023, down by 50.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 0% were sold at asking, and 45% were sold over asking.

Days on Market for Harvey, IL

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

Average Sale Time

Nov 2022Nov 2023CHANGE
42 Days26 Days-37.8%

Summary: Homes in Harvey had an average of 26 days on market in Nov 2023, down by 37.8% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2023, 11 homes were sold in Harvey; 73% of homes were sold within 30 days, 27% 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 2 Days Ago

Newest Listings in Harvey, IL

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