Is Markham, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Markham was a Seller's Market.
Key Takeaway
Markham is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Markham, IL
How much do homes in Markham, IL cost?
Median Sold Price
$140,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Markham have sold for 5.1% less than they did a year ago.
Summary: The median home sold price in Markham was $140,000 in November 2023, down 5.1% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $101.1K | $93.5K | -7.6% |
| 3 Bedrooms | $138K | $125K | -9.4% |
| 4 Bedrooms | $167K | $169.5K | +1.5% |
| 5+ Bedrooms | $182K | $180.1K | -1.0% |
Summary: Markham housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.6%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
| Harvey | $99K | $115K | +16.2% |
| Posen | $175K | $185K | +5.7% |
| Hazel Crest | $165K | $170K | +3.0% |
| Bremen Township | $211.1K | $208.3K | -1.3% |
| Markham | $147.5K | $140K | -5.1% |
Housing Supply in Markham, IL
How many homes are available in Markham, IL?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 74 | 74 | 0.0% |
Summary: The Markham real estate market had 74 homes for sale in November 2023, the same as October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 47 | 46 | -2.1% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Markham housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Markham, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Markham in November 2023, down by 42.1% month-over-month. Of the 11 sold homes, 27% were sold under asking, 9% were sold at asking, and 64% were sold over asking.
Days on Market for Markham, IL
How long does it take to sell a home in Markham, IL?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 63 Days | 19 Days | -69.9% |
Summary: Homes in Markham had an average of 19 days on market in Nov 2023, down by 69.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Markham are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 11 homes were sold in Markham; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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