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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homewood is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Homewood, IL cost?

Median Sold Price

$225,000

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$20,055(+9.8%)

Key Takeaway

Homes in Homewood have sold for 9.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $63K$66.4K
+5.4%
2 $128K$140.8K
+10.0%
3 $205K$237K
+15.6%
4 $250K$284.9K
+14.0%
5+ $320K$347.5K
+8.6%

Median Sold Price Compared To Nearby Cities

Thornton
+14.3%
Flossmoor
+14.1%
Homewood
+9.8%
Hazel Crest
+4.9%

How many homes are available in Homewood, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
129133+3.1%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 33
0.0%
2 3637
+2.8%
3 4546
+2.2%
4 3537
+5.7%
5+ 1010
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
4032-20.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homewood, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
18 Days13 Days-27.9%

Breakdown of Home Sale Times

29 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 Homewood 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 Homewood, IL

Homewood, IL has 133 homes for sale to choose from. The number of listings in Homewood, IL increased by 3.1% between July 2022 and August 2022. The median list price of listings available in August 2022 was $225,000, while the average time on the real estate market was 13 days. Real estate listing prices changed between July 2022 and August 2022: the cost of 1 bedroom properties went up by 5.4%, the cost of 2 bedrooms properties went up by 10%, the cost of 3 bedrooms properties went up by 15.6%, prices of 4 bedrooms properties increased by 14%, 5 bedrooms properties prices increased by 8.6%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, the quantity of 2 bedrooms homes went up by 2.8%, number of 3 bedrooms homes increased by 2.2%, the quantity of 4 bedrooms homes went up by 5.7%, number of 5 bedrooms homes remained the same. In August 2022, from all listings sold in Homewood, IL there were more than 14 sold above asking price, over 7 sold below and more than 11 were sold right at the asked price.

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