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 November 2021

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.

How much do homes in Highland Park, IL cost?

Median Sold Price

$629,950

$253/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$54,783(+9.5%)

Key Takeaway

Homes in Highland Park have sold for 9.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $168.5K$190K
+12.8%
2 $302.5K$312.5K
+3.3%
3 $435.7K$503K
+15.4%
4 $665K$735K
+10.5%
5+ $895K$1.0M
+11.7%

Median Sold Price Compared To Nearby Cities

West Deerfield Township
+14.1%
Deerfield
+13.3%
Highland Park
+9.5%
Moraine Township
+5.4%
Highwood
-13.9%

How many homes are available in Highland Park, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
141137-2.8%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 23
+50.0%
2 2223
+4.5%
3 4845
-6.3%
4 4135
-14.6%
5+ 2831
+10.7%

Number of Homes Sold

Oct 2022Nov 2022%
3436+5.9%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 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. 69.4% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
24 Days28 Days+18.0%

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Highland Park, IL

Number of homes for sale in Highland Park, IL real estate market have reached 137. The number of listings in Highland Park, IL decreased by 2.8% between October 2022 and November 2022. Listings spent 28 days on the market in November 2022, and had a median list price of $629,950 during the same period. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 12.8%, 2 bedrooms properties prices increased by 3.3%, prices of 3 bedrooms properties increased by 15.4%, prices of 4 bedrooms properties went up by 10.5%, the cost of 5 bedrooms properties went up by 11.7%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory increased by 50%, 2 bedrooms homes inventory increased by 4.5%, number of 3 bedrooms homes decreased by 6.3%, number of 4 bedrooms homes decreased by 14.6%, the quantity of 5 bedrooms homes went up by 10.7%. Highland Park, IL housing market in November 2022 saw over 7 listings sold above listed price, more than 4 sold at listed price and over 25 sold below.

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