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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Matteson is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Matteson was a Seller's Market.

Key Takeaway

Matteson 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 Matteson, IL

How much do homes in Matteson, IL cost?

Median Sold Price

$230,000

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$9,975(-4.2%)

Key Takeaway

Homes in Matteson have sold for 4.2% less than they did a year ago.

Summary: The median home sold price in Matteson was $230,000 in February 2024, down 4.2% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$148K
N/A
2 $185K$165K
-10.8%
3 $225K$225K
0.0%
4 $286K$275K
-3.8%
5+ $390K$420K
+7.7%

Summary: Matteson housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.8%, 3 bedroom homes did not change, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 7.7%.

Median Sold Price Compared To Nearby Cities

Richton Park
+13.1%
Olympia Fields
+3.8%
Park Forest
0.0%
Rich Township
-3.7%
Matteson
-4.2%

Housing Supply in Matteson, IL

How many homes are available in Matteson, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7187+22.5%

Summary: The Matteson real estate market had 87 homes for sale in February 2024, a 22.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 3144
+41.9%
4 2829
+3.6%
5+ 89
+12.5%

Summary: The Matteson housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 41.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
614+133.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Matteson, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Matteson in February 2024, up by 133.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 7% were sold at asking, and 50% were sold over asking.

Days on Market for Matteson, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
43 Days42 Days-3.2%

Summary: Homes in Matteson had an average of 42 days on market in Feb 2024, down by 3.2% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 14 homes were sold in Matteson; 64% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% 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 27 Days Ago

Newest Listings in Matteson, IL

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