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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Markham is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Markham, IL

How much do homes in Markham, IL cost?

Median Sold Price

$163,000

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,000(+16.4%)

Key Takeaway

Homes in Markham have sold for 16.4% more than they did a year ago.

Summary: The median home sold price in Markham was $163,000 in May 2024, up 16.4% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $86.5K$137.5K
+59.0%
3 $129K$150K
+16.3%
4 $167K$179.3K
+7.4%
5+ $169K$188.7K
+11.7%

Summary: Markham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 59%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 11.7%.

Median Sold Price Compared To Nearby Cities

Markham
+16.4%
Hazel Crest
+16.1%
Posen
+5.1%
Bremen Township
+4.8%
Harvey
+4.4%

Housing Supply in Markham, IL

How many homes are available in Markham, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7268-5.6%

Summary: The Markham real estate market had 68 homes for sale in May 2024, a 5.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 5045
-10.0%
4 1615
-6.3%
5+ 56
+20.0%

Summary: The Markham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1413-7.1%

Asking Price vs. Sold Price

2 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 Markham, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Markham in May 2024, down by 7.1% month-over-month. Of the 13 sold homes, 15% were sold under asking, 31% were sold at asking, and 54% 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

May 2023May 2024CHANGE
58 Days26 Days-54.5%

Summary: Homes in Markham had an average of 26 days on market in May 2024, down by 54.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Markham; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% 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 12 Days Ago

Newest Listings in Markham, IL

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