Is Homewood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Homewood has remained a Seller's Market.
Housing Prices in Homewood, IL
How much do homes in Homewood, IL cost?
Median Sold Price
$234,916
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Homewood was $234,916 in March 2024, up 2.1% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75.5K | $102.2K | +35.5% |
2 Bedrooms | $141.2K | $150K | +6.2% |
3 Bedrooms | $240K | $252.4K | +5.2% |
4 Bedrooms | $296K | $310K | +4.7% |
5+ Bedrooms | $350K | $339.9K | -2.9% |
Summary: Homewood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.5%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
Hazel Crest | $155K | $171.9K | +10.9% |
Thornton | $162.2K | $177.5K | +9.4% |
Homewood | $230.1K | $234.9K | +2.1% |
Flossmoor | $315K | $312.5K | -0.8% |
Housing Supply in Homewood, IL
How many homes are available in Homewood, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
83 | 97 | +16.9% |
Summary: The Homewood real estate market had 97 homes for sale in March 2024, a 16.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 16 | 15 | -6.3% |
3 Bedrooms | 36 | 42 | +16.7% |
4 Bedrooms | 27 | 33 | +22.2% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Homewood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 18 | +5.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Homewood in March 2024, up by 5.9% month-over-month. Of the 18 sold homes, 56% were sold under asking, 6% were sold at asking, and 39% were sold over asking.
Days on Market for Homewood, IL
How long does it take to sell a home in Homewood, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 35 Days | -7.5% |
Summary: Homes in Homewood had an average of 35 days on market in Mar 2024, down by 7.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in Homewood; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.