Is Highland Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Highland Park is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Highland Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Highland Park, IL

How much do homes in Highland Park, IL cost?

Median Sold Price

$686,875

$270/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$61,875(+9.9%)

Key Takeaway

Homes in Highland Park have sold for 9.9% more than they did a year ago.

Summary: The median home sold price in Highland Park was $686,875 in September 2024, up 9.9% from last year, and the median price per square foot was $270.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $385K$192K
-50.1%
2 $382K$375K
-1.8%
3 $485K$517K
+6.6%
4 $727K$769.5K
+5.8%
5+ $1.0M$1.2M
+15.7%

Summary: Highland Park housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50.1%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 15.7%.

Median Sold Price Compared To Nearby Cities

Highland Park
+9.9%
Moraine Township
+8.6%
Highwood
+8.0%
West Deerfield Township
+5.8%
Deerfield
+2.6%

Housing Supply in Highland Park, IL

How many homes are available in Highland Park, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
118135+14.4%

Summary: The Highland Park real estate market had 135 homes for sale in September 2024, a 14.4% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 2121
0.0%
3 3239
+21.9%
4 3745
+21.6%
5+ 2830
+7.1%

Summary: The Highland Park 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 21.9%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 7.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3726-29.7%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Highland Park, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Highland Park in September 2024, down by 29.7% month-over-month. Of the 26 sold homes, 54% were sold under asking, 8% were sold at asking, and 38% were sold over asking.

Days on Market for Highland Park, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
124 Days27 Days-77.7%

Summary: Homes in Highland Park had an average of 27 days on market in Sep 2024, down by 77.7% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 26 homes were sold in Highland Park; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% 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 30 Days Ago

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