Is Homer Glen, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homer Glen is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Homer Glen has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Homer Glen, IL

How much do homes in Homer Glen, IL cost?

Median Sold Price

$478,250

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$49,650(+11.6%)

Key Takeaway

Homes in Homer Glen have sold for 11.6% more than they did a year ago.

Summary: The median home sold price in Homer Glen was $478,250 in March 2024, up 11.6% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $310K$307.4K
-0.8%
3 $392K$442.5K
+12.9%
4 $450K$510.1K
+13.4%
5+ $567.5K$625K
+10.1%

Summary: Homer Glen 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 decreased by 0.8%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 10.1%.

Median Sold Price Compared To Nearby Cities

Homer Glen
+11.6%
Orland Park
+9.4%
Homer Township
+6.8%
Lockport
+6.7%
Lemont
+3.9%

Housing Supply in Homer Glen, IL

How many homes are available in Homer Glen, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6263+1.6%

Summary: The Homer Glen real estate market had 63 homes for sale in March 2024, a 1.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1824
+33.3%
4 2925
-13.8%
5+ 1211
-8.3%

Summary: The Homer Glen 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 increased by 33.3%, 4 bedroom homes decreased by 13.8%, and 5+ bedroom homes decreased by 8.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1817-5.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer Glen, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Homer Glen in March 2024, down by 5.6% month-over-month. Of the 17 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.

Days on Market for Homer Glen, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
36 Days25 Days-28.6%

Summary: Homes in Homer Glen had an average of 25 days on market in Mar 2024, down by 28.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 17 homes were sold in Homer Glen; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% 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 22 Days Ago

Newest Listings in Homer Glen, IL

Nearby Markets to Homer Glen, IL

What housing markets are near Homer Glen, IL?